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Can Chainlink whales worth $22 million push LINK price above $14?
$LINK was just rejected at $14.9 and corrected down to $13.63, ( decreasing by 4.15%), creating a fierce battle between whale inflows and retail investor profit-taking pressure.
🔹 A large whale has just accumulated an additional 1.62 million LINK ( worth approximately ~$22.01 million) from Binance and Kraken, bringing the total holdings to 2.18 million tokens. Data from CryptoQuant has also recorded large continuous buy orders over the past 28 days and negative net flows, indicating a strong accumulation trend.
🔸 In contrast to the whales, retail investors are taking advantage of the opportunity to take profits as the price recovers. Buy-Sell Delta has been negative for three consecutive days, showing that selling pressure from the crowd is temporarily overwhelming whale buying pressure.
🔹 Technical indicators are leaning toward the Bears. Stochastic RSI has made a bearish crossover and DMI confirms that sellers are controlling the short-term trend.
$LINK is in a do-or-die situation. If the whales are not strong enough to absorb the selling pressure from retailers, the price could find support at $12.7. Conversely, if the sell wall is broken, the target will be $16.7.
Do you think the whales will win and push the price above $15 or will the retailers crash the market?
Follow Trading Insight_Research for updates on the next movements. News and information are for reference only, not investment advice. Please read carefully before making a decision.