Altcoins News
By James Thorp
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Whale Activity Supports LINK Rally. Recent market data indicates that whale wallets have added over 1.
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Exchange Reserves Could Signal a Pause. Despite strong whale support, Chainlink’s exchange reserves tell a different story.
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Key Levels to Watch for Chainlink. Currently, LINK trades around $24.80, sitting between key support and resistance zones.
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Market Sentiment and Outlook. The recent LINK rally highlights the dual forces at play: whale accumulation fueling momentum and…
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Conclusion. Chainlink’s price rally has been strongly supported by whale accumulation, lifting LINK above $24.
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Chainlink (LINK) has been showing notable strength amid broader altcoin weakness, driven primarily by whale accumulation.
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Recent market data indicates that whale wallets have added over 1.1 million LINK in the past week, equating to roughly $27.2 million in inflows at the current price of $24.80.
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Smart Money wallets, which track well-informed investor activity, have also increased their holdings by 12.
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This accumulation underscores the continued relevance of Chainlink as a DeFi Oracle, with demand driven both by functional utility and investor sentiment.
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Despite strong whale support, Chainlink’s exchange reserves tell a different story. On August 16, LINK’s exchange balance dropped to a monthly low of 162.
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However, at press time, reserves have risen to 162.90 million LINK, a gain of more than 300,000 LINK—roughly $7.4 million at current prices.
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Further evidence comes from a slight dip in whale wallet balances over the last 24 hours, indicating that some large holders may be pausing accumulation or partially selling into…
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While Smart Money continues to accumulate, supporting the bullish case for mid-term growth, the rising exchange reserves highlight a potential pause or minor correction in LINK…
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$25.70: Immediate resistance; a break could push LINK toward $28.20 and $30.10, based on Fibonacci projections.
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$21.40: Critical level; a breach could break the bullish structure and shift LINK into a short-term bearish trend
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