Chainlink has finally broken out of a price pattern it has been stuck in for years. The move has traders and investors watching closely, as both the chart and the on-chain data are now pointing to more upside.
There are two big reasons behind the excitement. One comes from the price chart shared by Crypto Patel. The other comes from whale activity spotted by Santiment.
1. Multi-Year Triangle Breakout Could Open the Door for Huge Gains
Crypto Patel shared a two-week Chainlink chart showing the token breaking out of a long triangle formation. This pattern has been building since 2021. When a coin breaks out of such a setup after years of sideways action, it often leads to a big rally.
$LINK has broken free from a multi-year triangle on the 2W chart after years of accumulation.
— Crypto Patel (@CryptoPatel) August 9, 2025
Holding above $16–$17 keeps the door open for $35, $50… maybe even $100 this cycle.
Eyes on $230 for the next big breakout.@chainlink pic.twitter.com/SofRHptZN8
Patel says the key level to watch is between $16 and $17. If LINK can stay above this range, the next targets are $35 and $50. In a very bullish scenario, he believes the token could even reach $100 before this market cycle is over.
His chart also shows a much higher target of $230, but that would likely take more time. For now, the focus is on keeping the breakout alive and turning $17 into strong support.
2. Whales and Sharks Are Loading Up
Santiment data shows that large Chainlink holders have been adding more tokens to their wallets. These are wallets that hold between 100,000 and 1 million LINK.
Since the start of August, the number of these wallets has grown by 27, which is a 4.2% increase. Together, they now own 0.67% more of the total LINK supply than they did just a week ago.
🔗🐳 Chainlink whale & shark wallets are growing in number, as well as their collective holdings. As $LINK has quickly jumped back above $18.40, we've seen a +4.2% in 100K-1M LINK wallets, and 0.67% more of the supply accumulated in August alone. https://t.co/FIZ57wRcO0 pic.twitter.com/320CmJrh0z
— Santiment (@santimentfeed) August 7, 2025
This buying wave started as the price moved back above $18.40. It shows that big players are positioning themselves for more gains. In the past, heavy accumulation from whales has often been followed by strong price moves.
Chainlink now has both a technical breakout and strong support from big holders. If it can keep the $16–$17 area as a floor, the road to $35 and beyond could open up quickly. Whales are clearly betting that this rally still has a lot of room to run.
Read also: 3 Key Reasons Chainlink (LINK) Could Be the Next Big Crypto Winner
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