Chainlink Whales’ Accumulation Sparks a Bullish Outlook and Price Surge Anticipation

Azeez Mustapha


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Chainlink Whales' Accumulation Sparks a Bullish Outlook and Price Surge AnticipationChainlink whales’ accumulation sparks a bullish outlook as crypto signals also indicate price surge anticipation. The recent surge in interest from Chainlink whales, particularly the consistent accumulation by a significant whale wallet holding 4,556,684 LINK tokens valued at $83.6 million, suggests positive sentiment. This accumulation is viewed as a bullish indicator, fostering expectations for a future LINK price increase.

Critical metric analysis shows a substantial rise in Chainlink holders, and the trend of investors withdrawing LINK from exchanges, constituting 21.5% of the total supply, implies an anticipation of an imminent price surge. Collectively, these factors contribute to a sustained bullish outlook for Chainlink, with heightened investor confidence and potential upward momentum in its price.

COINBASE:LINKUSD Chart Image by Admiral119Until recently, LINKUSD was consolidating within the support at $12.540 and the previous resistance at $17.680. The range market began after an upsurge that occurred on November 6, 2023.
According to the RSI (Relative Strength Index), LINKUSD is now under the control of the bulls. Further confirmation of the bullish trend’s continuation is the recent breakout from the $19.580 resistance.

Support Levels: $17.680, $12.540, $9.700 
Resistance Levels: $19.580, $23.910, $28.710

Total Market Capitalization: $1.71T 
Chainlink Market Capitalization: $11.9B
Chainlink Volume: $888M
Market Rank: #10

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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