The native token of oracle network Chainlink LINK$18.39 climbed to $18.80 on Monday as large holders have been adding significant positions despite the token's struggle to fully recover from October's correction. The token established a series of higher lows at $18.10 and $18.42, creating a bullish structure, CoinDesk Research's technical analysis model noted. It posted a solid 3% advance over the past 24 hours, outpacing the broader crypto market. The breakout above the key $18.70 level occurred with a volume spike to 3.07 million. Despite the advance, trading activity runs more than 5% below the seven-day moving average. With LINK having broken above the $18.70 resistance level that capped previous rallies, the technical picture appears constructive for continued upside. However, the subdued volume profile during the advance creates a divergence that warrants caution. Meanwhile, LINK whales, or large token holders, withdrew nearly 10 million tokens from crypto exchange Binance since the October 11 crypto crash, well-followed blockchain sleuth Lookonchain noted. That's roughly worth $188 million at current prices, signaling steady accumulation by deep-pocketed investors. Key Technical Levels Signal Caution for LINK Support/Resistance: Strong support established at $18.24 with resistance forming near $18.70-$18.75 range. Volume Analysis: 24-hour volume declined 5.55% below weekly averages despite price advance, suggesting limited institutional participation. Chart Patterns: Ascending channel structure intact since mid-2023 with recent bounce from lower boundary support. Targets & Risk/Reward: Immediate upside targets at $20.04 resistance level, with downside risk toward $18.10 support if momentum fails to sustain. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.