Recent movements by major Chainlink investors are drawing attention, as the price of LINK remains stuck in a narrow range and has yet to surpass a critical resistance level. The number of wallets holding at least 100,000 LINK, known as whales, has reached an all-time high of 805. At present, LINK is trading around $9.56, remaining notably below its key resistance area.
Whale accumulation at record levels
Over the past seven weeks, the number of wallets holding at least 100,000 LINK has increased by 8.2 percent. At today’s prices, each of these wallets holds over $958,000 worth of LINK. This development signals that large-scale investors with long-term outlooks are maintaining, and even increasing, their interest in Chainlink, despite ongoing price pressure. Historically, such accumulation during quiet periods in the market has often indicated expectations for a long-term recovery.
The tally of wallets holding at least 100,000 LINK has climbed to 805, up 8.2 percent in seven weeks. This suggests that major players in the crypto market remain keen on Chainlink.
Chainlink remains among the leading cryptocurrencies by market capitalization. An increasing share of the total supply being concentrated in whale wallets can influence overall market sentiment. However, rising wallet numbers alone do not guarantee a breakout; confirmation from trading volume and market structure is still necessary for a price rally to gain traction.
Glossary: A whale is a term used for an individual or wallet that holds a large position in a cryptocurrency. Whales can play a significant role in market movements.
Market sentiment outpaces price action
Market sentiment toward Chainlink has improved dramatically in recent days, with sentiment indices reaching 777—close to recent highs. According to analyses, investors’ expectations are now running ahead of actual price performance. Commentators note this points to optimism for a price rally, but argue that LINK’s price has yet to reflect this bullish outlook in full.
Chart analysis shows that following a sharp decline in late 2025, LINK formed a bottom in February and March before staging a recovery rally in April. However, in the last several weeks, price action has come under pressure again, pulling back from local highs.
Currently, LINK is fluctuating between support at $7.35 and resistance at $7.44. The $7.35 level serves as a near-term support, while $7.44–$7.48 acts as the next hurdle for bulls. A sustained close above $7.48 could open the door for a fresh rally. Conversely, slipping back below $7.35 could see a test of the $7.60 region.
| Wallet Type | Count | Value (USD) | Seven-Week Change |
|---|---|---|---|
| At least 100K LINK | 805 | ~958,000 | 8.2% increase |
| Small investors | Low volume | Unclear | Stable |
Price remains below critical resistance
As of May 2026, Chainlink’s price is hovering at $9.56. After recently falling below the 1.0 Fibonacci level at $11.15, that area has emerged as a major resistance. A clear move above $11.15 is seen as necessary for a strong recovery. Higher up, additional resistance is noted at $14.42 and $17.00. If buyers are unable to reclaim the $11.15 level, a slide toward the $8.00–$7.50 range becomes more likely.
Technical indicators currently show a picture that is neutral to weak. The RSI stands at 47.7 and MACD remains slightly negative. While whale accumulation is a positive long-term signal, the price must overcome key resistance before any convincing upward move can take place.
According to real-time data featured on CryptoAppsy, LINK is trading at $9.56 as of the latest update.
