The Chainlink (LINK) cryptocurrency is riding a 4% dip in the last 30 days, as the coin struggles to breach the $25 resistance level. There are some signs of momentum, including Chainlink’s network growth accelerating with 1,963 new addresses and a bullish pennant flag suggesting a breakout above $25.20. With Bitcoin and the rest of the crypto market picking up, LINK may finally be on the verge of breaching $25 and perhaps higher within the next week.

On the 1st of October, Chainlink added 1,963 new addresses, highlighting its rising adoption and expanding user base. The new addresses indicate stronger Chainlink network activity and interest, which could help LINK break its recent downspell. With network expansion aligning with improving technical structures, this development sets the stage for LINK to potentially sustain bullish momentum in the coming weeks.

Furthermore, the native Chainlink cryptocurrency has also been a favorite amongst crypto whales of late. Indeed, large investors have purchased approximately 800,000 coins during the altcoin’s price drop period. As LINK’s price dipped towards the $22 mark over the last week, whales have gotten active, purchasing what they suspect to be LINK trading at a premium entry point.

Chainlink’s price action is consolidating within a bullish pennant flag, with clear boundaries between $20.9 and $23.1. This pattern often precedes continuation rallies, especially when reinforced by strong on-chain support. A successful breakout could allow LINK to challenge resistance at $25.20 and even extend toward $27.80. Chainlink’s network expansion, bullish pennant flag formation, notable outflows, and improving MVRV collectively point toward strengthening fundamentals. This convergence of signals suggests the market is preparing for higher levels if momentum holds. If $25 is finally reached next week, it could set the stage for a monster LINK rally.