LINK, the native coin of the leading blockchain oracle project Chainlink is in the doldrums. On a year-to-date basis, the cryptocurrency is down 26.1 percent, trading at a price of $8.97 as of Friday. However, crypto analyst Ali Martinez predicts that LINK is preparing for a quick 30 percent move to the upside.
LINK holders reach a new record high
In a Friday X post, Martinez remarked that although LINK is down a mammoth 83.4 percent from its May 2021 all-time high of $53, the number of the cryptocurrency’s holders has reached a new milestone. Notably, LINK holders are now around 3.96 million worldwide.
Besides the record high number of LINK holders, the digital asset is starting to flash an array of bullish signals. For instance, for the first time in more than a year, LINK market value to realized value has formed a golden cross against the 200-day simple moving average.
For the uninitiated, an MVRV golden cross against the 200-day SMA occurs when the MVRV ratio rises above its 200-day simple moving average, suggesting that market valuation momentum is turning more positive.
It is usually seen as a strong bullish sign – especially when the crossover is supported by stronger network activity, and buying demand. Historically, the pattern resulted in a 155 percent bull run back in November 2024, and another 85 percent rally in July 2025.
In addition, LINK whales appear to be taking position for an upcoming rally. According to Martinez, over the past 5 days, transactions exceeding $1 million on the Chainlink network have risen from roughly 1 to around 15, indicating a sharp increase in large-holder activity.
The Chainlink network activity is also picking momentum. The number of active addresses has nearly doubled over the same period of 5 days – rising from approximately 2,450 to 4,800.
30 percent rally on the horizon
Martinez concluded his analysis by emphasizing that on the daily chart, LINK is testing the mid-range of a parallel channel at $8.80. He added that a daily close above it could open the path for a 30 percent rally to the channel’s upper boundary near $11.
The long-term price predictions for LINK remain extremely bullish, with one analyst predicting a surge to $100 by 2030.
At the same time, strong institutional demand for LINK is likely to help the digital asset cover the long distance to the ambitious price target.
