Chainlink (LINK) rebounds in April strengthen signals: whale accumulation, ETF inflows, and supply tightening resonate

Gate News reports that after a six-month downtrend, Chainlink (LINK) has recorded its first monthly bullish candle in March 2026, indicating a marginal improvement in market sentiment. Although the current price remains below $10, multiple on-chain and institutional signals suggest that capital is gradually flowing back, supporting a potential rebound in April.

On-chain data shows that large and medium-sized wallet addresses continue to accumulate. Arkham Intelligence disclosed that several large transactions occurred, including transfers of hundreds of thousands of LINK from over-the-counter markets. Meanwhile, Santiment statistics indicate that the number of wallets holding at least 1,000 LINK has risen to 25,420, reaching a three-month high and reflecting an increasing willingness among medium- and long-term investors to accumulate. The growth in holder addresses during sideways price movement is often seen as a sign of potential upward momentum building.

Institutional funds also show a positive trend. As of March 2026, the total assets of the US spot LINK ETF reached $93.74 million, a new all-time high. SosoValue data shows that these products have experienced continuous net inflows since February, with no weekly outflows in March, indicating steady institutional demand for LINK.

On the supply side, CryptoQuant data shows that the amount of LINK held on exchanges has been steadily decreasing, currently around 127.3 million tokens. The reduction in circulating supply combined with increased on-chain accumulation suggests that selling pressure is easing, providing a supportive foundation for price.

From a technical perspective, LINK is approaching a significant long-term support zone that has been in place since 2019. If this zone holds, it could serve as a key point for trend reversal. Historical experience suggests that long-term support levels often correlate with higher probabilities of a rebound.

However, macroeconomic factors remain a variable. Some studies indicate that rising uncertainty tends to drive market funds toward Bitcoin, leading to decreased activity in altcoins overall. Therefore, even if LINK experiences a recovery, its upward potential may be limited.