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Author: Sebastian Villafuerte

2.23 Million Chainlink Moved To Exchanges In Two Weeks Selling Pressure Incoming?

Chainlink (LINK) has faced massive volatility and uncertainty, with price action resembling a rollercoaster ride over the past few days. After trading around $17, LINK plunged to $13 before rebounding back to $16, all within less than three days. This extreme price movement reflects the broader markets instability, as traders struggle to navigate between bullish excitement and looming risks. Related Reading: Litecoin Fails To Break Key Resistance Level Again Can Bulls Hold Range Lows? The crypto market remains highly reactive, with investors balancing the hype from President Trumps U.S. Strategic Crypto Reserve announcement against the macroeconomic uncertainty that continues to weigh on sentiment. While the potential for increased crypto adoption fuels optimism, concerns about inflation, interest rates, and regulatory pressure keep many traders on edge. On-chain data from Santiment shows that 2.23 million LINK have been moved to exchanges in the past two weeks, a sign that selling pressure may be increasing. This shift in supply raises questions about whether large holders are preparing to offload LINK or simply repositioning ahead of a major move. As volatility remains high, traders are watching to see whether Chainlink can hold key support levels or break out toward new highs in the coming weeks. The next moves in both LINK and the broader market will be crucial for determining its short-term direction. Chainlink Struggles Below Key Levels Chainlink is currently trading below crucial resistance levels, with bulls struggling to reclaim lost ground. A breakout above these key levels could trigger a rally, but until then, uncertainty remains high. The broader market sentiment is mixed, with analysts and investors worried about the possibility of a continued drop if LINK loses support and falls below range lows. Metrics suggest a potential distribution phase is on the horizon, raising concerns that large holders may be preparing to offload LINK. Top analyst Ali Martinez shared on-chain data on X, revealing that 2.23 million LINK have been moved to exchanges in the past two weeks. Historically, this type of activity precedes selling pressure, as big players typically transfer assets to exchanges with the intent to sell. If selling accelerates, LINK could see a deeper correction, further delaying any bullish momentum. However, theres still a chance that this trend may not lead to a full-scale distribution phase. Some analysts believe that whales could be repositioning or preparing for a major move rather than outright selling. If LINK can hold above key support levels and reclaim resistance, it could defy expectations and start a new upward trend. Related Reading: Ethereum Breaks Below Parallel Channel Is ETH Collapsing To $1,250? For now, Chainlink remains at a pivotal moment, with price action depending heavily on whether bulls can absorb selling pressure and regain control. The coming days will determine whether LINK breaks out of its range or risks further downside in response to on-chain movements. LINK Trading Below Key Resistance Chainlink is currently trading below the $16.6 mark, hovering around the 200-day Moving Average (MA). This level is critical for bulls to reclaim in order to signal long-term strength and shift momentum in their favor. A decisive push above this zone would indicate that LINK is regaining traction, potentially setting the stage for further upside. However, in the short term, the main focus remains on holding above the $15 level. This support has been a key demand zone, and maintaining it in the coming days will be crucial to prevent further downside pressure. If LINK stays above $15, buyers could build momentum and attempt a breakout toward the next major resistance at $17.9, which aligns with the 200-day Exponential Moving Average (EMA). Related Reading: Dogecoin Breaks Above Falling Wedge Pattern Analyst Sets $0.43 Target A successful push above $17.9 would reinforce bullish sentiment and increase the chances of LINK reclaiming higher price levels. However, failure to hold $15 could expose LINK to renewed selling pressure, delaying any potential recovery. For now, traders are watching whether LINK can hold support and regain critical moving averages, which will determine its next significant move in the market. Featured image from Dall-E, chart from TradingView

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640,000 Chainlink (LINK) Withdrawn From Exchanges In 24 Hours Bullish Accumulation?

Author: Sebastian Villafuerte

United Kingdom

Source: NewsBTC

Mar 17, 2025 12:10

640,000 Chainlink (LINK) Withdrawn From Exchanges In 24 Hours Bullish Accumulation?

Chainlink (LINK) is currently trading below crucial resistance levels, which could trigger a strong rally if bulls manage to reclaim them. However, volatility and uncertainty have dominated the market since the start of the month, keeping LINKs price action unstable. Related Reading: Cardano Is About To Break Free Breakout Above Crucial Supply To Trigger A Big MoveAnalyst The token has seen wild price swings, moving from $17 down to $13, briefly rebounding to $16, and then collapsing to a low of $11.8. Bulls are now fighting to push LINK back above the $15 mark, but momentum remains weak, and the market appears to be consolidating around current levels. Despite this uncertainty, on-chain data is showing promising signs. Metrics from Santiment reveal that 640,000 LINK were pulled off exchanges in the last 24 hours, which is typically a bullish signal. Large withdrawals from exchanges often indicate long-term accumulation, as investors move their holdings into private wallets instead of keeping them available for immediate selling. With exchange outflows rising, traders are watching closely to see if LINK can break through resistance levels and confirm a shift toward bullish momentum. The next few trading sessions will be key in determining whether LINK can recover or if further consolidation is ahead. Uncertainty Looms As Investors Watch For A Breakout Chainlink is currently holding above the $13.5 mark, struggling to reclaim higher levels as selling pressure and market uncertainty persist. Despite its recent recovery attempts, LINK remains stuck below key resistance, making investors cautious about its short-term direction. Analysts and traders are concerned about a potential drop below the current range, as on-chain metrics suggest a distribution phase may be unfolding. If LINK fails to hold its support zone, it could see renewed selling pressure, sending the price toward lower demand levels. However, not all signals are bearish. Crypto expert Ali Martinez shared Santiment data on X, revealing that 640,000 LINK were pulled off exchanges in the last 24 hours. This is often seen as a bullish indicator, as large investors typically withdraw their holdings from exchanges when they anticipate higher prices in the future. When whales and long-term holders accumulate, it reduces selling pressure on the market and strengthens price stability. If LINK manages to break key resistance levels, this accumulation trend could set the stage for a strong recovery rally. Related Reading: Ethereum Must Reclaim $2,050 To Start A Recovery Rally Insights For now, bulls must defend the $13.5 support and push LINK above the $15 mark to confirm a bullish trend reversal. The next few days will be critical as investors watch for a breakout or further downside movement. Chainlink Bulls Defend Key Support Levels Chainlink (LINK) is currently trading at $14, facing resistance at the $15 level as bulls struggle to reclaim higher ground. The market remains under pressure, and LINK must hold current levels to avoid a deeper correction. For a recovery rally to take shape, bulls need to defend the $13 support zone and build momentum toward a breakout above $15. If LINK successfully pushes past this resistance, the next major target is the $17 level, where it must reclaim the 200-day moving average (MA) and the exponential moving average (EMA) to confirm a bullish trend reversal. However, if LINK fails to hold its current support levels, selling pressure could intensify, driving the price toward the $10 range or even lower levels. This would put LINK in a deeper downtrend, making a short-term recovery more difficult. Related Reading: Solana Forms Classic Cup-And-Handle Pattern Analyst Predicts A Breakout To $3,800 With market conditions still uncertain, the next few trading sessions will be crucial in determining whether LINK can stabilize and recover or face further downside risks. Bulls must step in soon to regain control and push prices back into an uptrend. Featured image from Dall-E, chart from TradingView

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New Chainlink Addresses Hit Highest Levels Since January LINK Network Growth Accelerates

Author: Sebastian Villafuerte

United Kingdom

Source: NewsBTC

Feb 24, 2025 12:10

New Chainlink Addresses Hit Highest Levels Since January LINK Network Growth Accelerates

Chainlink is trading at crucial demand levels after days of consolidation below the $20 mark, struggling to reclaim momentum amid broader market uncertainty. The entire crypto market has faced heightened volatility and instability following weeks of selling pressure. Investors remain on edge after Fridays Bybit hack, which saw $1.5 billion worth of ETH stolen, further fueling market-wide fear and caution. Related Reading: Bitcoin Faces Serious Price Compression What Happened Last Time Despite the uncertainty, Chainlink is showing signs of strength. Key data from Glassnode reveals that Chainlink network growth is accelerating, with the number of new $LINK addresses surging to 2,298its highest level since January. This spike in network activity suggests increasing adoption and renewed interest from investors, potentially signaling a shift in sentiment for the oracle-based cryptocurrency. As Chainlink continues to consolidate at key demand levels, traders are watching closely for a potential breakout. A strong recovery in network growth could translate into higher buying pressure, helping LINK reclaim critical resistance levels and break out of its current range. However, if bearish sentiment persists, LINK could struggle to maintain support, leading to further downside. With the market at a pivotal point, the coming days will be crucial in determining whether Chainlink can capitalize on its growing network activity and push higher. Chainlink Grows Amid Uncertainty Chainlink has continued to expand despite the broader market uncertainty and volatility, demonstrating resilience even as prices struggle to break above key resistance levels. While many altcoins have faced extreme selling pressure in recent weeks, LINK has held strong above crucial demand zones, maintaining its position as a top-performing project in the Oracle sector. One of the key drivers of Chainlinks strength is its continued strategic partnerships, including its collaboration with XRP, which highlights the growing demand for reliable decentralized data solutions in the blockchain space. As the market looks ahead, Chainlink investors remain optimistic about the projects potential in 2024. Many analysts expect LINK to have a bullish year, with increasing adoption fueling further price appreciation. Top analyst Ali Martinez shared Glassnode data on X, revealing that Chainlink network growth is accelerating significantly. The number of new LINK addresses has surged to 2,298, its highest level since January. This surge in network activity suggests growing investor interest and adoption, both of which are typically bullish indicators for price action. Related Reading: Cardano Must Hold Critical Support Around $0.67 To Sustain Bull Run Details With this increasing momentum, Chainlink appears to be positioning itself as one of the most promising projects in the crypto industry. If this trend continues, LINK could see a breakout rally in the coming months, solidifying its role as a critical infrastructure component for decentralized applications and smart contracts. Price Action Details: Testing Crucial Demand Chainlink (LINK) is currently trading at $17 after multiple attempts to reclaim the 200-day exponential moving average (EMA) around the $18 level. Bulls are facing a critical moment as LINK consolidates below key resistance, struggling to gain enough momentum for a breakout. If buyers step in and reclaim the $18 level, the next major hurdle will be the psychological $20 mark. A strong push above this level could trigger an aggressive rally into higher price targets, setting the stage for a bullish continuation. However, if LINK fails to hold the $17 support level, the price could face renewed selling pressure, leading to a potential drop into lower demand zones. Given the current market uncertainty, investors are closely monitoring these levels to determine the next directional move. The recent increase in new Chainlink addresses, as reported by Glassnode, suggests growing investor interest, which could provide the necessary fuel for an uptrend. Related Reading: Ethereum Holds Key Support Analyst Doubts Bears Can Defend $4K Anymore In the coming days, all eyes will be on whether LINK can establish strength above the 200-day EMA and reclaim the $20 mark. A decisive breakout would confirm bullish momentum, while further downside could indicate prolonged consolidation or a potential retest of lower support levels. Featured image from Dall-E, chart from TradingView

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Chainlink Hits $13.5 For The First Time Since July Smart Money Accumulation?

Author: Sebastian Villafuerte

United Kingdom

Source: NewsBTC

Nov 10, 2024 12:05

Chainlink Hits $13.5 For The First Time Since July Smart Money Accumulation?

Chainlink (LINK) has surged impressively over the past few days, breaking above the critical $13 resistance level and posting a remarkable 35% gain. This recent breakout has ignited optimism among analysts and investors, as LINK has faced strong resistance around the $13 mark since late July, struggling to sustain any upward momentum. Now, however, market sentiment appears to be shifting, with many anticipating further upside for Chainlink. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH Time To Buy Altcoins? Supporting this bullish outlook, key data from on-chain analytics firm Santiment reveals that LINK whale activity has reached a 3-month high, with large holders accumulating LINK in significant quantities. This increased whale activity is often an indicator of confidence among major investors, suggesting that Chainlink’s latest surge could be just the beginning of a more sustained rally. As LINK breaks free from its months-long resistance and gains renewed momentum, the next few days will be crucial in determining whether this rally has the strength to reach higher price levels or if it will encounter fresh resistance. For now, however, Chainlinks impressive performance has analysts speculating on its potential to maintain bullish momentum in the coming weeks. Chainlink Whales Waking Up Chainlink is showing signs of renewed strength, with the price surging above key resistance levels that have held the coin back for months. For the first time since July, LINK has broken past $13.65, marking a significant shift in its price action. This breakout has come at a time when critical data points are signaling a bullish outlook for the asset. According to Santiment, Chainlink has decoupled from the broader altcoin market, showing a unique price performance amidst a recovering market. One of the most compelling indicators is the spike in whale activity, which has reached a 3-month high. Stakeholders holding between 100K to 10M LINK have accumulated a massive $369.8 million worth of the token in just 7 weeks, representing an 8.2% increase in their holdings. This surge in whale activity often signals confidence in a tokens future price potential, with large investors positioning themselves for the next leg of growth. Related Reading: Bitcoin ETFs See Historic Surge Institutions Go Bullish On BTC With $1.38 Billion Record Inflows Accumulation by Chainlink whales, combined with its price-breaking key resistance levels, suggests that LINK is poised for continued growth in the coming weeks. As the entire market begins to recover and rise again, Chainlinks decoupling from the pack could indicate that its positioning itself to lead the charge in the altcoin space. Investors are watching closely, as the recent price surge and whale behavior suggest LINK could experience sustained bullish momentum. LINK Testing New Supply Chainlink is currently trading at $13.5 after successfully breaking above the 200-day moving average (MA) at $12.9, a key level that signals a strong, bullish outlook for the long term. This breakout has given bulls control, reinforcing positive sentiment around LINKs price action. For the uptrend to continue, its crucial that LINK holds the 200-day MA as support, as this level often marks a turning point between the bear and bull phases. While LINK shows strength above $13, a healthy retrace to around $12.5 could provide the fuel needed for further upside if that level holds as support. A pullback of this nature would allow bulls to consolidate gains and set a stronger foundation for the next move. Related Reading: Solana Breaks Above Key Resistance Top Analyst Sets $300 Target Traders are eyeing $14.5 as the next significant supply zone, where LINK may face resistance as it approaches this level. If LINK manages to push above $14.5, it would signal robust demand and potentially open the door to even higher levels in the coming weeks, as whale activity and overall market sentiment support further gains. Featured image from Dall-E, chart from TradingView

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