Chainlink LINK: Whales Accumulate 800K Tokens During Market Dip, Signaling Potential Rally

Chainlink LINK News - Chainlink (LINK) experienced a sharp 12% decline during yesterday's broader crypto selloff, dropping to an intraday low of $20.30. The breach of the critical $21–22 support zone tested the $20 psychological level, a key area from July's breakout. Large holders seized the opportunity, accumulating over 800,000 LINK during the downturn. Analyst Ali Martinez highlighted this accumulation, alongside 5.5 million LINK withdrawn from exchanges—a bullish signal indicating strong long-term conviction. For LINK to stabilize, reclaiming the $21–22 zone is essential. Upside targets remain at $23.10, $24.80, and $25.70, while $20 continues to serve as crucial support. The whale activity and significant exchange outflows suggest growing institutional confidence in a rebound toward the $28 resistance level.