Rally signal for Chainlink (LINK): What are they aiming for?

Popular #Oracle project #chainlik is approaching a potential breakout, accompanied by whale transactions.

A Chainlink whale withdrew $2.95 million worth of LINK from Binance in 24 hours. The whale, who withdraws LINK from the exchange at regular intervals, transferred 529,999 LINK from Binance to his personal wallet in three days.

LINK recently faced a potential correction after rising to $30.5. During the correction, LINK was seen falling to $27.5.

AMBCrypto reported that whale signals indicate a possible rise.

Chainlink (LINK) struggled to maintain its upward momentum but could not sustain above $30. The Chainlink whale turned the declines into a potential buying opportunity.

According to Lookonchain, a whale bought $LINK regardless of the price. The whale has withdrawn 100,000 LINK from Binance in the last 24 hours. #AMBCrypto evaluated the whale's move as follows;

“When whales tend to accumulate, this usually means that the whales will hold the asset for the long term. Large wallets withdrawing LINK from exchanges reduces potential selling pressure, and thus, if demand increases, a bullish signal is created.”

IntoTheBlock stated that $LINK whale activity increased by 41.5 percent the other day, and that this increase reflected active participation in Chainlink. AMBCrypto's analysis stated that increasing whale accumulation is a bullish signal, but LINK is still in the correction phase.

The analysis included the following statements; “Simply put, Chainlink is attracting interest from both whales and individual investors. If this bullish sentiment continues, the LINK price could break the $30 resistance. If this resistance is broken, the next target for LINK will be $32.2.”

AMBCrypto also warned that LINK could drop to as low as $26.9 if selling pressure increases.