Chainlink (LINK), a leading decentralized oracle network, is drawing renewed attention as a confluence of on-chain and market signals hints at a possible shift in its price trajectory. After a challenging start to 2025, with LINK down 37% year-to-date , recent data suggests that long-term holders and spot market participants are quietly accumulating, setting the stage for a potential trend reversal.
Accumulation Outpaces Activity: What’s Happening On-Chain?
Despite a 17,3% drop in active wallets since early June, the number of non-empty LINK wallets has surged to a record 769.380. This divergence signals that while short-term trading activity has cooled, long-term investors are steadily accumulating LINK, reducing immediate sell pressure and creating a healthier distribution base. In the past month alone, 7.903 new wallets joined the network—a 1,05% increase—further supporting the accumulation narrative.
Key Resistance in Focus: The $15,53 Hurdle
LINK recently rebounded from the $11,68 support level, climbing above $13,30 and testing its descending resistance line. However, the real test lies at $15,53—a level that has repeatedly capped upward moves. A decisive breakout above this resistance could invalidate the current downtrend and open the door to targets near $17,93. Conversely, failure to sustain momentum may see LINK revisiting the $11–12 range.
Sentiment and Social Buzz: A Bullish Shift
Chainlink’s social dominance has spiked to 1,202%, its highest since April, reflecting a surge in community and trader interest. Weighted sentiment has also jumped to 4,76, marking the most bullish reading in over two months. This shift in crowd psychology, while positive, brings the risk of hype-driven corrections if not backed by sustained buying.
Derivatives and Spot Markets: Signs of Real Demand
After weeks of negative funding, Binance’s LINK funding rate has turned slightly positive (0,01%), indicating a subtle return of bullish bias among derivatives traders. More importantly, spot market data shows taker buy dominance, with cumulative volume delta (CVD) for market buys remaining positive. This suggests that the recent price rally is underpinned by genuine demand rather than speculative leverage.
What’s Next for LINK?
The convergence of rising wallet accumulation, improving sentiment, and real spot demand paints a cautiously optimistic picture for Chainlink. However, the $15,53 resistance remains the key battleground. If bulls can maintain momentum and push LINK above this level, a move toward $17,93 becomes plausible. Otherwise, a pullback to lower support zones is possible.
For investors and traders, the coming weeks will be crucial in determining whether Chainlink can break free from its multi-month downtrend and reclaim its status as a market leader in decentralized data infrastructure.
