Chainlink Whales Scoop Up 4 Million LINK Tokens Amid Market Slump
Major chainlink investors have aggressively accumulated over 4 million LINK tokens in the past two weeks, countering broader market weakness. LINK's price has pulled back sharply from its recent high near $25 to current levels around $15, reflecting short-term bearish pressure.
Technical indicators show mixed signals. While the 200-period FBB line at $11.41 maintains long-term bullish potential, immediate momentum appears negative. The weekly MACD's bearish crossover and -1.094 histogram reading suggest sustained selling pressure may test key support levels at $13.7 and potentially $11.4.
Traders are watching closely to determine if whale accumulation reflects strong belief in LINK's fundamentals or just strategic positioning during a temporary downturn. The token's 4% daily gain shows some resilience, though the weekly trading range between $13.71 and $17.65 highlights ongoing volatility.
