Altcoins News
By Dan Saada
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Whale Moves $11 Million Worth of LINK to Binance. On May 31, data from Lookonchain revealed that a crypto whale with the address “0x33f7”…
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Chainlink Breaks Key Support—What’s Next?. Following the whale dump, Chainlink dropped by 8.25% in just 24 hours, settling at around $14.
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Surging Volume and Leveraged Panic Selling. The steep price fall has been accompanied by a sharp increase in trading activity.
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Exchange Outflows Suggest Some Accumulation. While short-term traders are leaning bearish, long-term holders may see this drop as a buying…
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Technical Indicators Show No Sign of Reversal. From a technical perspective, LINK is flashing warning signs.
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Summary: Short-Term Pain, Long-Term Uncertainty. Chainlink is currently facing a tough period, and the recent whale sell-off has only made things…
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Chainlink (LINK) is under serious pressure after a sharp price drop triggered by a major whale sell-off.
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On May 31, data from Lookonchain revealed that a crypto whale with the address “0x33f7” transferred 722,416 LINK tokens worth approximately $11.11 million to Binance.
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Such massive transfers to exchanges are typically seen as bearish, as they suggest an intention to sell.
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Technical analysts now believe LINK could fall further if it fails to reclaim this level soon.
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If LINK closes below $14.75 on the daily chart, the bearish trend is likely to strengthen. In this case, a further 25% decline could be possible, bringing LINK into the $10–$11…
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The steep price fall has been accompanied by a sharp increase in trading activity. LINK’s trading volume surged 45% over the last 24 hours, reflecting rising volatility and…
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CoinGlass data shows that traders are now heavily shorting the asset. Open positions show $3.04 million in longs and $6.
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This imbalance also raises the risk of a liquidation event, where sudden price moves can force traders to close positions rapidly, adding more momentum to either side of the trade.
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While short-term traders are leaning bearish, long-term holders may see this drop as a buying opportunity. CoinGlass data revealed that $3.
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