Whale activity in Chainlink （LINK） shows significant accumulation, indicating potential price growth. This article examines the recent trends and technical indicators that suggest a bullish outlook for LINK.
Points
- Major accumulation by key stakeholders.
- Negative exchange netflows indicating long-term holdings.
- Mild bullishness in recent trading sessions.
- Potential for bullish rally if key EMAs are surpassed.
- Technical indicators show mixed signals.
According to Santiment’s report, Chainlink’s key stakeholders, holding between 10,000 and 1 million LINK coins, have shown significant accumulation during the recent market downturn. Since June 24th, these stakeholders have added 9.2 million LINK to their holdings, representing a 4.65% increase.
Additionally, data from Into the Block reveals that exchange netflows for LINK have been negative over the past two weeks, with approximately $110 million worth of LINK being withdrawn from exchanges. This behavior typically signals an accumulation phase, suggesting that investors are moving LINK into long-term holdings.
On the daily technical chart, Chainlink （LINK） is finding support at $12.379. The last two trading sessions have shown mild bullishness. Since early March, LINK’s price has been on a downtrend, falling from $22.892 and breaking below key exponential moving averages （EMAs）. Over the past three months, LINK’s price has decreased by 2.05%, and in the last month, it has dropped by 18.50%. However, last week saw a 6.02% increase, indicating buyer interest at current levels.
Technical indicators like the MACD and RSI are showing mild bullish signals. The MACD, while still in the bearish zone, has formed a bullish cross and is trending upward. The RSI has bounced back from the oversold zone and is trading above the 14-day SMA, indicating bullish momentum.
Despite these positive signs, TradingView’s technical summary shows mixed signals: out of 26 indicators, 11 suggest selling, 10 are neutral, and 5 recommend buying, indicating overall bearish sentiment.
解説
- The accumulation of LINK by key stakeholders suggests confidence in the long-term potential of Chainlink.
- Negative exchange netflows indicate that investors are holding onto their LINK, which could reduce selling pressure and support price growth.
- Technical indicators such as the MACD and RSI show potential for a bullish trend, but mixed signals from TradingView highlight the need for cautious optimism.
- Surpassing key EMAs could trigger a bullish rally, but failure to do so may continue the bearish trend.