Chainlink LINK: Whales Accumulate at $12 Demand Zone, Signaling Potential Breakout
While the broader crypto market remains fragile, Chainlink is flashing a divergent signal. LINK's price has retreated to a key demand zone near $12, presenting what appears to be a bearish setup at first glance. On-chain data, however, reveals a more nuanced picture.
Large holders are accumulating LINK aggressively, treating the current range as a high-conviction buying opportunity rather than a breakdown risk. The $12 level has historically acted as strong support, and a sustained hold here could pave the way for a rally toward the $15-$17 resistance zone.
Chainlink's price chart shows a descending channel pattern, but the compression NEAR the demand zone suggests an impending volatility expansion. Whale accumulation patterns mirror previous setups that preceded major rallies, making this a critical juncture for LINK.
