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Chainlink whales scoop up $120 million in LINK, signaling a bullish future. In a significant bullish signal for Chainlink (LINK), prominent crypto analyst Ali Martinez reports that whales have accumulated over 10 million LINK tokens, valued at approximately $120 million, in just the past two weeks. This substantial buy-up by large holders indicates strong confidence in Chainlink’s future potential, suggesting that major investors are positioning themselves for anticipated gains.
#Chainlink whales have bought up over 10 million $LINK in the last two weeks, totaling approximately $120 million! pic.twitter.com/9sFtpvn2Ri
— Ali (@ali_charts) July 15, 2024
The influx of capital into LINK underscores its growing appeal and resilience in the crypto market. With such a substantial vote of confidence from high-net-worth investors, the future for Chainlink looks increasingly promising, potentially driving further price appreciation and reinforcing its status as a key player in the decentralized oracle space.
Key Chainlink Levels To Watch – July 16
The LINK/USD pair shows a bullish trend, as evidenced by the higher low formation and the recent breakout. The price has bounced off the support level around $12.540 and is approaching the next resistance at $20.740.
A change of character (ChoCH) indicates potential further upward momentum. Stochastic RSI indicates an overbought condition, suggesting a possible short-term pullback before continuation.
Chainlink Key Levels
Resistance Levels: $20.740, $22.880, $25.000
Support Levels: $16.260, $12.540, $9.700
LINK Metrics
Total Market Capitalization: $2.33T
Chainlink Market Capitalization: $8.55B
Chainlink Volume: $382.32M
Market Rank: #15
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