🔹Chainlink (LINK) peaked at $8.46 on July 20.

🔹Price declined, reaching $7.20 on Aug 4 (-15%).

🔹Long-term holders panic, selling off their positions.

🔹On-chain data shows intense selling pressure from long-term holders.

🔹Chainlink whales also reduce trading activity significantly.

🔹Potential bearish reversal if price drops below $6.50 support level.

🔹Bullish rebound possible if long-investors stop selling and break resistance at $8.