Chainlink Holds Above $13.00 as Wallet Growth and MVRV Signal Breakout Setup

Chainlink’s price holds above $13.30 while compressing near $14.00, signaling a breakout zone with rising bullish momentum.

Over 7,900 new wallets joined in 30 days, pushing LINK holders to a record 769,380 despite lower year-over-year activity.

Chainlink’s MVRV at 17.73% shows holders are underwater, reducing sell pressure and marking a deep long-term accumulation zone.

Chainlink is gaining momentum after reclaiming $13.30, with technical strength aligning with historic wallet growth and undervalued metrics. The cryptocurrency now presents a strong setup as accumulation trends accelerate and resistance levels come into focus.

Chainlink Faces Compression at Critical Technical Levels

Chainlink is currently trading above $13.45 and is above a key ascending trendline that has supported the price since early 2022. This line, formed from the $5.50 support, has given many rebounds throughout big pullbacks, preserving the overall bullish pattern. Price recently tapped this trendline again, forming a wedge that now intersects near $14.00.

The long-term falling wedge descends from the $38.00 high and converges with rising support, compressing price into a narrow range. Technical analyst Market Watcher has presented an analysis, noting that if momentum builds above $14.00, the wedge could break upward. This breakout scenario would then target resistance zones at $17.50 and $22.00 levels that previously acted as strong pivots in 2021 and 2023.

Source: Market Watcher

The analyst also highlighted a critical barrier between $27.00 and $32.00, where Chainlink failed in two past breakout attempts. If these zones are cleared, a retest of the macro resistance at $52.00–$56.00 could become viable. For now, price compression continues, but the setup remains technically bullish as long as $13.00 support holds firm.

Volume has declined from prior impulse moves, yet Chainlink continues to respect key structural levels. The ongoing price action reflects tightening pressure that may soon resolve into a significant move. This structural coil gives traders a defined range to monitor closely.

Accumulation Climbs as MVRV Hints at Opportunity Zone

Beyond technicals, Chainlink’s on-chain metrics signal a phase of healthy accumulation. Wallet activity trends, realized value indicators, and long-term holding behavior suggest a low-risk environment for current holders.

According to analyst Santiment, the number of LINK holders just hit a record 769,380. In the past month alone, over 7,900 new wallets have joined, reflecting continued interest even as the price consolidates. Meanwhile, wallet activity in the past year dropped by 17.3%, pointing to lower selling pressure and a longer-term holding outlook.

The MVRV ratio currently stands at -17.73%, placing Chainlink deep in its historical opportunity zone. Long-term holders remain largely underwater, which typically reduces the likelihood of mass selloffs. With a realized price at $9.52 and a 365-day average at $11.27, the current market price above $13.00 indicates early recovery signs. Chainlink continues to draw investor attention, as both technical and on-chain indicators align with renewed bullish potential.

The post Chainlink Holds Above $13.00 as Wallet Growth and MVRV Signal Breakout Setup appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.