Chainlink (LINK) has caught the attention of large investors once again, with on-chain data revealing that whales scooped up more than 800,000 LINK during the recent price dip.
Market analyst Ali highlighted the move, noting that addresses holding between 100,000 and 1 million LINK significantly increased their balances in the past few days.
The buying spree comes as LINK managed to stabilize around the $21–$22 range, even after facing selling pressure earlier this week. According to TradingView data, LINK is currently trading at $21.93, marking a slight daily gain of 1.29%. Despite the rebound, the Relative Strength Index (RSI) shows mixed signals, sitting at 51.74 on the daily chart, suggesting a neutral momentum after briefly dipping toward oversold levels.
Chainlink’s price has seen repeated tests of the $20 support zone, an area that whales appear keen to defend with their recent accumulation.
Historically, large-scale buying from whales has often acted as a cushion against further downside, potentially laying the groundwork for a stronger recovery if market sentiment improves.
While LINK still trades below its recent September highs near $25, the consistent inflows into whale wallets could be a sign of confidence in the project’s long-term outlook. Traders are now watching whether LINK can reclaim the $23–$25 range, which has proven to be a key resistance area in recent months.
With volatility expected to persist across the crypto market, Chainlink’s resilience near $21 and notable whale activity may set the stage for its next big move.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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