Support Or Resistance? Chainlink (LINK) Investor Data Suggests Key Price Zones :

Market prices of Chainlink (LINK) suffered another major decline in the past 24 hours as the general crypto market continued to react negatively to US new international tariffs. Over the last two months, LINK has exhibited a prolonged downtrend losing over 40% of its market value. Amidst this bearish market, popular analytics company Glassnode has highlighted two price cluster levels that have shaped investors’ behavior in this period.

Chainlink’s CBD Data Reveals Key Investor Clusters At $14.6 And $16 – What Could This Mean?

In a recent post on X, Glassnode shared valuable on-chain insights on the LINK market using Cost Basis Distribution (CBD) – a metric that reveals at what prices investors acquired their assets, thus helping to determine potential resistance or support zones.

According to Glassnode, LINK’s data has identified two price levels with high accumulation activity i.e. $16 and $14.6, noting that both price zones feature long-term investors who have remained active since August-October 2024. In analyzing transactions at the $16 price level, Glassnode discovered that investors at this level have shown strategic repositioning by actively accumulating during downtrends.