Chainlink surged past $26 this week for the first time in seven months as on-chain activity reached 2025 highs, according to data from Santiment.
The on-chain analytics platform noted that nearly 10,000 wallets made transfers on Sunday, while a similar number of new wallets were created on Monday.
Price Breakout and Network Growth
Santiment reported that on Aug. 17, 9,813 wallets carried out at least one transfer, the most this year. A day later, the network witnessed the creation of 9,625 new wallets, also a 2025 peak. Interestingly, these activities also coincided with the positive price rally.
Specifically, Chainlink traded above $26 on Aug. 18, its highest level since January 31 when it peaked at $26.26. However, LINK has retraced a bit, trading at $24 after a 3.2% drop in the past day, reducing its weekly gain to 12.6%.
Notably, Santiment data has earlier shown active addresses climbing to 6,463, the highest in eight months, and whale transactions above $100,000 reaching a seven-month peak of 4,624. The firm also highlighted a surge in optimism, as bullish comments outnumber bearish ones by 3.3 to 1, marking the strongest sentiment since February 1. During this period of increased whale activity, Link’s price traded above $24.
How High Can Chainlink Surge?
The analytics firm has added that monitoring these on-chain figures over the next several days will be critical. If wallet activity remains elevated, it could validate the rally and increase the likelihood of LINK pushing toward $30 or higher.
Speaking on the uptrend, market analyst More Crypto Online outlined the following key price levels for Chainlink, identifying $31 and $47 as milestone targets for the bulls. The outlook is based on Elliott Wave analysis, which suggests the current upward structure remains intact as long as LINK holds above the critical support zone near $13.
The analyst described $13 as the “line in the sand” for the directly bullish scenario, meaning a sustained drop below this level would invalidate the projected path higher.
The chart analysis shows that the longer-term extension levels are plotted as high as $68, $85, $122, $158, and $219. For context, Chainlink’s all-time high stands at $52.88, recorded in May 2021.
Other Analysts Weigh in on Chainlink’s Price
Notably, Chainlink has gained more than 52% from its low near $13, surging above $18.93 in late July before reaching $26. Crypto analyst Crypto Bullet noted the rally as part of a broader bullish structure. The weekly chart shared by the analyst shows LINK reclaiming the key 0.618 Fibonacci level around $20 and advancing in what appears to be a third impulsive wave.
Chart analysis shows the key Chainlink checkpoints at $31, while the longer-term projection suggests a potential climb into the $50–$55 zone by late 2025 or early 2026, provided the $13 support holds as the critical invalidation level.
These forecasts align with analyst Ali Martinez’s earlier prediction that Chainlink is targeting $29 and $46 after breaking above the $20.12 Fibonacci resistance. His chart shows the first objective at the 1.00 mark near $29.12 and the second at the 1.272 extension around $46, which aligns with the upper boundary of a long-term ascending channel.
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