Chainlink Poised for Recovery: Will LINK Rally Toward $33 Soon?

Technical Setup and Whale Activity Support LINK Upside

Chainlink (LINK) is once again making headlines as analysts point out the potential bullish reversal that could potentially signal a reversal in the bearish trend. The decentralized oracle network is trading close to $14.60, though there are signs suggesting that it could be making a comeback to $33 over the next months. This interplay between technical patterns, on-chain accumulation, and momentum indicators hints at a potential shift in the direction of the asset, albeit confirmation is critical.

LINK Forms a Bullish Setup Near Support

Analyst Don highlighted a descending channel with the crypto trading around the lower support zone at $14.70. The zone has been a historical rebound base, and the structure suggests the possibility of a surge to $33, which is 120% upside of the current level. More so, the setup is pegged on the rule of purchasing at the base of a channel where traders anticipate a movement towards the upper resistance level or a breakout above the channel.

LINKUSD 8H CHART | SOURCE: X

Additionally, the analyst pointed out that if the price sustains a close above $17-$18, it could confirm a reversal, indicating renewed strength. However, the analyst also warned that the invalidation level is at a lower mark of $13.50. Don suggests patience between cautious optimism and breakout anticipation. Currently, technical indicators show LINK is trying to stabilize by testing the bottom of the channel, providing a good risk-to-reward opportunity.

Whales Accumulate Despite Price Weakness

According to data provided by analyst Ali, large holders' wallets with between 100,000 and 1,000,000 LINK have added a cumulative of over 4 million tokens in the past two weeks. This boost takes total whale ownership to about 187.65 million Chainlink, even with the price being pulled towards $14.77. Whale activity and price divergence usually indicate accumulation at the beginning of a trend reversal.

Chainlink Token Accumulation Chart | Source: X

In the past, strong rallies have followed these buying patterns. When whales control supply, selling pressure reduces on the exchanges, thus preconditioning an upward trend if the demand reverses. Whale accumulation is the foundation of the potential recovery, which means that smart money is setting up the next stage of bullishness.

Indicators Point to Reversal Zone

On the daily chart, the token continues to form a series of lower highs and lows since mid-October, confirming the downtrend. However, the MACD histogram has red bars that are shrinking, which is a sign of decreasing bearish momentum. A bullish crossover could boost LINK to the $17-$18.50 range once confirmed.

LINKUSD 1D CHART | SOURCE: TradingView

Meanwhile, the RSI at 33.52 is near the oversold territory, suggesting a possible rebound. A bullish divergence above 45 will confirm initial buying interest and renew buyers' interest.

Chainlink prices prediction looks promising as momentum indicators, whale activity, and the technical structure position towards a potential breakout. If the larger market stabilises, LINK's path to $33 in 2025 might be well on track.