Whale accumulation has boosted Chainlink’s market structure, with large holders acquiring over 14 million LINK in the past three weeks. This buying activity signaled growing confidence among institutional-sized participants rather than profit-taking. Exchange netflows remained negative, with a daily reading of -$601,600, indicating that investors preferred holding tokens in private wallets. Binance’s top traders maintained a clear bullish bias, with long accounts representing 67.57% of positions. LINK traded at approximately $8.57 after recovering from the $7-support zone. The cryptocurrency approached the key $9.05-resistance level but has not yet produced a confirmed breakout.
According to Chainlink market data, whales accumulated more than 14 million LINK over the last three weeks, strengthening the bullish narrative despite recent consolidation. This buying activity hinted at growing confidence among large holders, instead of aggressive profit-taking.
The steady increase in whale balances suggests that institutional-sized participants preferred accumulating during periods of stable prices. Large-scale accumulation often reduces available circulating supply, which could support higher prices if demand continues to increase.
Chainlink’s spot market recorded negative exchange netflows, with the latest daily reading showing -$601,600. This finding suggested that investors preferred holding tokens in private wallets rather than positioning them for sale.
Binance’s top traders maintained a clear bullish bias despite LINK’s consolidation below resistance. Long accounts represented 67.57% of positions while short accounts accounted for 32.43%, producing a 2.08 Long/Short Ratio.
LINK was trading at approximately $8.57 after recovering from the $7-support zone and reclaiming the $8.26-level. The price approached the key $9.05-resistance but has not produced a confirmed breakout.
The MACD stayed above the Signal line, underlining bullishness despite the histogram’s bars getting smaller. This suggested that buying strength moderated after the recent advance.
If buyers reclaim $9.05, LINK would likely challenge the psychological $10-resistance next. However, rejection under $9.05 could trigger another pullback towards $8.26, a level where buyers previously regained control.
