Chainlink price prediction amid $149M LINK unlocks on Binance

Chainlink (LINK) is back in the spotlight after the unlocking of $149 million worth of tokens, which is fueling widespread speculation about its price trajectory.

The token unlock has intensified market chatter, as traders dissect whale movements, technical patterns, and macro-level indicators for clues on where the price of LINK is headed next.

The unlocking of 17.875 million LINK tokens, transferred primarily to Binance on June 21, marked one of the largest token moves from the Chainlink team in recent months. Although such events often spark fears of imminent sell-offs, past behaviour suggests a different narrative may be unfolding.

Whales have stirred the pot with heavy transactions

The dramatic increase in whale activity following the unlock has caught the attention of on-chain analysts.

According to data from IntoTheBlock, whale transactions surged by over 3,000% within a single day, pointing to strategic repositioning rather than panic-driven exits.

Despite the token inflows to Binance, which typically indicate selling pressure, LINK rebounded by 4.03% to reach $12.02, signalling that demand may be absorbing the increased supply.

This price action is consistent with previous unlock events, where LINK often rallied instead of collapsing under dilution fears.

Interestingly, netflows also turned sharply positive, rising from negative territory to over $225 million. This shift implies that whales may be accumulating, not distributing, especially with LINK hovering near historically strong support zones.

Technical indicators hint at a potential breakout

Chainlink’s technical setup shows early signs of a reversal, especially as the price rebounded off the lower Bollinger Band at $11.51.

Currently, the token is navigating the $12.00 region with an eye toward the next major resistance between $13.20 and $13.50.

The Relative Strength Index (RSI) is hovering around 34 and is rising, indicating a possible price rebound.

Moreover, a bullish divergence is forming on the daily chart as the RSI prints higher lows while the price logs lower ones.

Chainlink is also developing a rounded base pattern, a classic reversal setup, as it consolidates above the $11.00 support level.

If buyers maintain their current momentum, breaking the $13.36 Bollinger midline could pave the way toward a sustained rally.

Market sentiment has turned cautiously optimistic

While LINK has shed nearly 29% over the past 30 days, the recent spike in trading volume—up over 31%—shows that investor interest is picking up again.

The Fear and Greed Index stands at a neutral 49, reflecting a cautious but stabilising mood across the broader market.

Long-term investors remain bullish, citing Chainlink’s integral role in decentralised finance (DeFi). Its Cross-Chain Interoperability Protocol (CCIP) and proof-of-reserve solutions continue to attract institutional attention from major names like Visa, ANZ, and Fidelity.

Chainlink’s utility in bridging real-world data to blockchains strengthens its fundamentals, making it less vulnerable to short-term speculation and more aligned with long-term DeFi infrastructure.

Chainlink price prediction: Can LINK breach $13.50?

The $13.50 level has emerged as a psychological and technical barrier, and analysts agree that a clean breakout above it could open the path toward $14.50 or higher by July.

However, failure to maintain support above $12.00 may result in renewed consolidation or even a retest of the $11.00 floor.

Despite lingering bearish signals like a high NVT ratio and increased exchange inflows, the market appears to be pricing in the token unlock as a non-event.

Historical trends continue to favour a post-unlock rally, especially when fundamentals and technicals align.

With Chainlink’s GitHub activity outperforming even Ethereum and community engagement rising, the bullish case grows stronger.

However, the macroeconomic backdrop and geopolitical tensions remain wild cards that could influence the broader crypto market.

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