Chainlink LINK Navigates Resistance Amid Accumulation Signals
Chainlink's price continues to face resistance below a descending trendline, with the $16–$17 zone acting as a firm cap. Sellers maintain control of the near-term structure, though the $12–$13 demand area has provided stability, limiting immediate downside risk.
Fundamental strength is emerging beneath the surface. Institutional interest remains robust, with LINK-related ETFs recording steady inflows and whale wallets accumulating over 20 million tokens. This significant accumulation signals strong long-term conviction, contrasting with the current short-term technical weakness.
The market is now balancing immediate bearish pressure against this building fundamental support. A decisive breakout above the $16–$17 resistance could pave the way for a MOVE toward the $18–$20 range. Conversely, a failure to hold the $12–$13 support may extend the current corrective phase.
