Chainlink Whales Gobble Up 25M LINK as Price Nears Critical Resistance
Big-money players just dumped another $25 million into Chainlink—because nothing says ’confidence’ like doubling down before a make-or-break price level.
LINK’s chart looks like it’s teetering on the edge of either a breakout or a ’thanks for playing’ moment. Traders are glued to their screens, waiting to see if the whales’ gamble pays off or if this is just another ’smart money’ illusion.
Meanwhile, retail investors are left wondering if they’re witnessing a masterclass in accumulation... or being set up as exit liquidity. Classic crypto.
Source: Chain.link
Chainlink Eyeing One Key Price Level as Whales Load Up On LINK
The digital asset sector saw a major development take place in May, as JPMorgan changed the game for tokenization. Indeed, the $4 trillion asset manager and investment fulfilled its first tokenized transaction on a public blockchain. Moreover, it wasn’t possible without the help of Chainlink.
The network played a key role in that and is looked at as a critical part of the emerging tokenization industry. That could play a key part in its eventual price movement, as experts are expecting big things from this month. Specifically, Chainlink whales have loaded up on 25 million LINK as its price eyes a critical level.
According to a recent report, wallets holding between 100,000 and 10 million LINK have grown to reach 375 million, jumping from 350 million since February. Moreover, data shows there has been a stark increase in large transaction counts. This is usually an indicator of whale movement for the top institutional investors.
That has propelled Chainlink back to the $16 mark. Moreover, its increase has seen the asset exceed its 200-day exponential moving average (EMA) at that price point. Moreover, it shows a target off the $18 supply zone. That signals a 40% surge could be on the horizon amid a recovery, which WOULD see the asset target the $25 level. This would coincide with the 78.6 Fibonacci level, supported by a 58 Relative Strength Index showing bullish momentum could be nearing.
