Chainlink Whales Accumulate as LINK Supply Shrinks—Why Is Price Still Stuck?

Chainlink price

MACD remains in bearish territory, with the signal line still below the zero line, indicating a lack of bullish momentum. While RSI is hovering near the lower range (around 35), suggesting weak buying strength, though not yet in deeply oversold conditions. This combination points to a market that is not yet ready for a strong reversal, despite holding key support.

Key Levels to Watch

Immediate support: $8
Range resistance: $10
Breakout confirmation: Above $10 → potential move toward $11–$12
Breakdown risk: Below $8 → downside toward $7–$7.5

Wrapping it Up: Here’s What’s Next for the Chainlink (LINK) Price Rally

As Chainlink (LINK) price approaches the end of the quarter, the market remains in a tight compression phase, with accumulation building but momentum still lacking. From a trading perspective, the $8–$10 range remains the key battlefield.

A decisive breakout above $10 could trigger a move toward $11–$12 in the near term, with an extension toward $13–$14 if momentum and participation improve into quarter-end.

On the downside, a loss of $8 support would invalidate the accumulation structure, opening the door for a decline toward $7–$7.5.

At present, price action suggests positioning rather than confirmation. While declining exchange reserves and rising whale wallets provide a supportive backdrop, the absence of strong network activity means that a breakout still requires a demand-side catalyst.

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