- Chainlink rebounded from $13.18 to $15.25, with trading volume surging to 120 million LINK in 24 hours.
- The top five wallets hold $2.93 billion in LINK, showing continued whale accumulation despite market volatility.
Chainlink (LINK) has emerged as one of the top-performing altcoins after a recent market-wide downturn. The cryptocurrency dropped to $13.18 before rebounding to $15.25 within 24 hours, showing resilience despite broader market weakness.
The market prices rapidly increased precisely when investor interest measured by trading volume reached its peak. The top five LINK wallets were observed engaging in constant accumulation activities, resulting in a collective asset worth $2.93 billion.
Chainlink Recovers Amid Market Downturn
The altcoin market recovered substantially for Chainlink on March 5, 2025, after a steep downturn affected the entire sector. The LINK token experienced a price drop, reaching $13.18 following a one-day surge to $15.25.INK’s price rise was reinforced by rising LINK trading volume surpassing 120 million while the previous weekly average remained at 80 million.
Chainlink observes a robust market recovery that indicates investors are recommitting to its enduring market prospects. The Glassnode on-chain data shows that network activity increased after March 4 when the number of active addresses moved from 10,000 to 15,000 on March 5. The LINK/BTC trading pair demonstrated gains, which saw the price increase from 0.00024 BTC to 0.00028 BTC as the asset strengthened despite market volatility.
Whale Accumulation Signals Confidence
Big wallet owners, who are known as whales, continue purchasing LINK despite the recent market price movements. The five largest LINK wallets possess ownership of 18.15% of the total LINK supply worth $2.93 billion at present, according to Santiment data. Solid investor belief emerges from the continuous buying activities by major stakeholders, which could establish favorable conditions for price increases.
The accumulation of whales serves as a historical marker for extended periods of market bull movements. The price movement of cryptocurrencies tends to rise when whales adjust their positions because their actions decrease the circulating supply.
The future market performance of LINK appears promising because the current pattern shows potential for additional growth during the upcoming weeks. The market risks from LINK holders who control large quantities stem from their ability to control price movements through strategic asset sales.
Technical Indicators Indicate a Mixed Outlook
The short-term course of LINK presents an unclear picture using technical analysis methods. The Relative Strength Index shows 41.82 at the time, indicating LINK asset recovery from oversold status before it can establish solid bullish trends. LINK has the potential to elevate towards the neutral zone beyond 50 when buying pressure remains active.
The Moving Average Convergence Divergence indicator indicates an upcoming bullish crossover that might validate short-term upward market trends. The MACD line is getting close to intersecting the signal line, and a successful crossover above would amplify odds for more gains. LINK may experience additional market consolidation or new price challenges if it loses its rising trend.
LINK’s ability to hold the $15.18 support level will be crucial. If the asset stabilizes above this price, it could attempt to reclaim the $18.26 resistance level in the short term. However, failure to maintain support could trigger a pullback toward $10.19, especially if selling pressure intensifies. If the bullish momentum continues, the asset could aim for higher price levels, potentially testing $18.26. However, a failure to hold support might result in a retest at lower levels.
