As the altcoin market braces for a potential parabolic rally, Chainlink (LINK) is showing signs of a possible price reversal. The large-cap altcoin, boasting a fully diluted valuation of approximately $13.8 billion and a daily trading volume of around $373 million, ended last week with a hammer candlestick pattern—often an indicator of a trend reversal.
Chainlink Price Outlook
On Monday, March 17, LINK gained about 1% in the early New York session, trading at approximately $13.76. However, the asset remains down over 28% since the second inauguration of U.S. President Donald Trump, reflecting broader market uncertainties.
From a technical analysis perspective, Chainlink has been maintaining a macro uptrend with higher highs and higher lows. The altcoin is currently retesting the lower boundary of a rising channel on the weekly chart, suggesting a potential bounce-back.
If bullish sentiment persists, LINK could target $24 in the short term, aligning with the 1.618 Fibonacci Retracement level. However, a sustained close below $13 could trigger a deeper correction towards the $10 mark.
Chainlink’s Expansion Strategy Amid Low Whale Demand
Beyond price action, Chainlink’s network growth continues to drive its long-term fundamentals. The blockchain oracle provider has emerged as a crucial pillar for Web3 adoption, securing high-profile institutional partnerships. Notably, Chainlink has caught the attention of the Trump-backed World Liberty Financial (WLFI) and other institutional players.
In the past week, the Chainlink ecosystem reported 11 new integrations across four services and 12 different blockchains. Despite this expansion, whale activity in LINK remains subdued. On-chain data from IntoTheBlock shows that transactions exceeding $100,000 have plummeted from 620 on March 14 to just 121 on March 17, suggesting a decline in large-scale accumulation.
⬡ Chainlink Adoption Update ⬡
— Chainlink (@chainlink) March 16, 2025
There were 11 integrations of the Chainlink standard across 4 services and 12 different chains: Base, BNB Chain, Ethereum, Fraxtal, HashKey Chain, JANCTION, Lisk, Mode, Optimism, Polygon, Soneium, and Unichain.
New integrations include @AITECHio,… pic.twitter.com/ppO0VGcOuh
While LINK’s price action suggests a potential bullish reversal, market sentiment remains a critical factor. A push above $13.76 could set the stage for a rally toward $24, but failure to hold above $13 might lead to further losses. Investors should keep an eye on whale activity and broader altcoin market trends as the anticipated altseason unfolds.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
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