- Chainlink (LINK) is nearing $16 as whales accumulate more than 2.5 million tokens in 10 days.
- Rising network activity and Reserve holdings are adding to the market’s focus on LINK.
Chainlink (LINK) is gaining attention as large holders increase their positions while the token trades near $14.50. More than 2.5 million LINK were accumulated over a 10-day period, according to crypto analyst Ali Charts, while new network addresses continue to emerge.
LINK is currently trading between $14.33 and $14.50, with traders watching the $15 and $16 levels for signs of further strength. A move above $16 could bring the next major resistance near $17.70 into focus.
LINK Approaches Major Resistance
The $16 level could prove important because about 16.9 million LINK were previously acquired around that price, according to Ali Charts. Another large accumulation zone sits near $17.70, where roughly 22.7 million LINK changed hands.
Recent weekly price action has also improved. Analyst Quinten noted that LINK closed the week at $14.04, remaining above the $13.70 level and recording its strongest weekly close since November 2025. The weekly close also moved above the August 30 close, marking a higher high on the chart.
$LINK closed its weekly at $14.04
Very meaningful weekly close because:
– above the $13.70 resistance
– highest weekly close since November 2025
– took out the 30 August weekly close, making a higher highMomentum is strong, but there's quite a lot of resistance in the area… pic.twitter.com/PUFLXGIcEW
— Quinten (@QuintenFrancois) September 28, 2026
Quinten identified $15 as the most important monthly resistance in the near term. Meanwhile, analyst Whale Factor said LINK has broken above a downtrend line that had restricted its price for several months. His analysis points to potential levels at $15, $17.30, $20, $23 and $28, with $20 standing out as a key level.
🐋 WHALE WATCH :Something interesting is happening with $LINK.
The daily chart shows a long term downtrend line that has controlled price for months.Now LINK has pushed through that structure and is trading around $14.
Potential Fibonacci roadmap:
=> $15
=> $17.3
=> $20
=> $23… pic.twitter.com/0IoTq7Hcot— Whale Factor (@WhaleFactor) September 27, 2026
Longer-term, analyst Giannis Andreou has identified a possible W-shaped formation on LINK’s chart. He suggested that the pattern could eventually point toward $52 if it develops fully. The formation remains unconfirmed, however, and LINK would need to clear several resistance levels before that scenario gains technical confirmation.
Chainlink Reserve Holdings Reach 6.04 Million LINK
Whale accumulation is taking place alongside continued growth in the Chainlink Reserve. The Reserve added 373,791 LINK in September, bringing its total holdings to 6.04 million tokens. Its holdings have nearly doubled from the 3.06 million LINK recorded at the end of Q1.
Chainlink is also expanding its presence in financial infrastructure. Its Cross-Chain Interoperability Protocol currently secures about $82.39 billion in token value across blockchain networks.
The network recently announced a strategic collaboration with Infosys aimed at connecting traditional banking infrastructure with blockchain-based markets through Chainlink’s technology. Infosys’ banking platform reportedly serves 1.7 billion account holders.
The partnership adds to Chainlink’s work with major financial institutions and industry organizations such as Swift, UBS, Mastercard and DTCC. However, the announcement did not identify specific banking partners or provide a timeline for implementation.
New LINK Addresses Rise After Infosys News
Network activity also increased around the announcement. Santiment reported that 1,344 new LINK addresses were created that day, about 19% above the monthly baseline.
Since August 1, only 11 trading days had recorded higher address creation. The strongest day during that period saw 1,929 new addresses.
The combination of whale accumulation, rising Reserve holdings and increased network activity has put LINK back in focus. For the price, however, the key test remains whether it can move through the $15 and $16 resistance levels and eventually challenge the $17.70 zone.
ALSO READ: Why Is Ethena (ENA) Up Over 100% While Bitcoin Slides?
DISCLAIMER:
This article reflects the author’s views and is provided for informational purposes only. While we strive for accuracy, the publisher does not guarantee that all information is complete or current. Readers should verify important information and consult appropriate sources before making decisions based on this content.