Accumulate

Rally

Chainlink

Shiba Inu

Daily

<p>Despite short-term bearishness, Chainlink whales seem to be taking the opportunity to accumulate more LINK tokens for the long run.</p>
<h3 class="wp-block-heading" id="whales-snapping-up-link-on-dips">Whales Snapping Up LINK on Dips</h3>
<p>According to <a href="https://twitter.com/lookonchain/status/1730826907992904070?t=2LZDGucYRu0f2N2_9muPXw&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">on-chain data aggregator Lookonchain</a>, one whale recently spent $1.25 million to add 82,957 LINK to their wallet at $15.11 per token. This transaction came after the whale sold another cryptocurrency at a profit, suggesting they are redeploying funds into LINK.</p>
<p>The whale now holds around 193,438 LINK worth $2.87 million purchased at an average price of $14.82. These large, aggressive buys on price dips indicate long-term conviction even as technicals weaken.</p>
<h3 class="wp-block-heading" id="bearish-momentum-building-in-the-short-term">Bearish Momentum Building in the Short Term</h3>
<p>An analysis by AltFins highlights growing near-term bearishness after the powerful LINK rally last month. As they explained, the MACD line recently crossed below the MACD signal line, suggesting bullish momentum is stalling.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-52-1024x573.png" alt="" class="wp-image-390143" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-52-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-52-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-52-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-52-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-52-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-52-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-52-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-52-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-52-788x441.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>They note LINK remains in an uptrend across short, medium and long-term timeframes. However, with the price having hit unsustainable overbought levels, the pullback is now seeing “selling pressure” emerge.</p>
<h3 class="wp-block-heading" id="eyes-on-the-long-term-horizon-and-next-price-target">Eyes on the Long-Term Horizon and Next Price Target</h3>
<p>Yet AltFins remains constructive on LINK over the long run due to its key role as a leading oracle provider. With more real-world assets getting tokenized, data oracles become critical infrastructure. This strengthens the bull case for LINK.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/learn-the-principles-that-guided-this-cryptocurrency-investor-from-30k-to-1m/" target="_blank" rel="noopener noreferrer nofollow">Learn the Principles that Guided This Cryptocurrency Investor from $30K to $1M</a></li>
 <li><a href="https://captainaltcoin.com/how-trader-raised-2k-to-1-2m-in-just-78-days-investing-in-this-meme-coin/" target="_blank" rel="noopener noreferrer nofollow">How Trader Raised $2k to $1.2M in Just 78 Days Investing in This Meme Coin</a></li>
 <li><a href="https://captainaltcoin.com/shiba-inu-shib-daily-transactions-skyrocket-as-new-meme-player-meme-moguls-mgls-rises-to-the-top/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu (SHIB) Daily Transactions Skyrocket as New Meme Player Meme Moguls (MGLS) Rises to the Top</a></li>
</ul>
<p>As they noted, breaking back above the 200-day moving average confirmed Chainlink’s uptrend, opening the way to test the $18 resistance level. For now, LINK seems bound to this short-term correction, but the whales stacking LINK on dips see the bigger picture. Their aggressive accumulation provides a contrarian bull signal amid the bearish momentum.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy thetrades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/chainlink-whales-accumulating-for-a-rally-as-link-turns-bearish-across-timeframes/" rel="noopener noreferrer nofollow">Chainlink Whales Accumulate for a Rally as LINK Turns Bearish Across All Timeframes: Here’s the Next Price Target</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Chainlink Whales Accumulate for a Rally as LINK Turns Bearish Across All Timeframes: Here’s the Next Price Target

Table of Contents

CaptainAltcoin

Other articles published on Dec 2, 2023

Bitcoin Stabilizes, Ethereum Surges: Is BorroeFinance the Next Big Wave?

Chess3 Wins Australian Crypto Convention’s Whale Lab Pitch-fest Securing $500,000 Funding Opportu...

The Shift in Crypto Preferences: Growing Interest in NuggetRush Over Avalanche and Polygon

Bitcoin Price Approaching $40,000: What Will Be the Next Target?

SEC faces legal hurdle in Kraken crypto exchange lawsuit

Investor’s Spotlight: The Rising Token Captivating XRP and BNB Followers

Join our free newsletter for daily crypto updates!