đđ Chainlink: Will $17M Whale Activity Help $LINK Test $25 Resistance?
đ Whale Accumulation Sparks Interest: A whale withdrew 594,998 LINK ($17.31M) from Binance, including a recent 65,000 LINK ($1.81M) withdrawal. These large moves suggest either long-term confidence or preparation for significant market activity.
đ Key Resistance at $24â$25: LINK is testing a critical resistance zone that has historically acted as a strong barrier. While the MACD indicates ongoing bullish momentum, its strength appears to be fading. A decisive breakout above $25 could push LINK toward the $30.99 target.
đ Address Activity Shows Mixed Signals: On-chain data reveals a 1.94% rise in new addresses but a 1.39% drop in active addresses. Additionally, zero-balance addresses fell by 13.87%, suggesting long-term holder confidence but some short-term engagement uncertainty.
đŒ Transaction Volume Grows Steadily: The transaction count increased by 0.69% in the last 24 hours, reaching 12.11K transactions. This steady growth reflects rising market engagement, hinting at potential significant price action ahead.
đ Lower Exchange Reserves Indicate Reduced Sell Pressure: LINKâs exchange reserves dropped by 0.17%, aligning with whale withdrawals. This decline suggests reduced immediate selling pressure and strengthens the long-term bullish case for LINK.
đ„ Conclusion: LINK is at a make-or-break point. If it clears the $25 resistance zone, a rally toward $30.99 seems likely. However, failure could trigger a pullback to $22 support. Traders should watch the $25 level closely for confirmation. đđ
