Hamster

Boost

Hamster Kombat

Million

Chainlink

According to Santiment's report, Chainlink's key stakeholders with 10,000- 1 Million coins have been showing major accumulation during these weak markets. Since June 24th, they have added 9.2 million LINK, representing a +4.65% increase in their combined holdings since that date. 
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netflows for LINK have been negative over the past two weeks, with approximately $110 million worth of LINK being withdrawn from exchanges.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.
The increased buying activity by <a href="https://www.coingabbar.com/en/crypto-currency-news/pendle-price-whale-activity-tvl-drop" title="whales" class="f-link" rel="noopener noreferrer nofollow">whales</a> has positively influenced market sentiment, indicating that LINK may have reached a seasonal bottom. With prices at a low point, whales are purchasing LINK, anticipating an upward trend.
<h3 id="span-data-font-font-size-style-font-size-16px-a-href-https-www-coingabbar-com-en-price-prediction-chainlink-price-prediction-will-link-uptrend-flame-up-again-title-chainlink-class-f-link-rel-noopener-noreferrer-nofollow-chainlink-price-prediction-a-will-chainlink-rebound-span"><a href="https://www.coingabbar.com/en/price-prediction/chainlink-price-prediction-will-link-uptrend-flame-up-again" title="Chainlink" class="f-link" rel="noopener noreferrer nofollow">Chainlink Price Prediction</a>: Will&nbsp; Chainlink Rebound</h3>
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.
At the time of writing, LINK is trading at $13.039, with an intraday gain of 2.35%, reflecting bullishness on the technical chart. The 24-hour trading volume is $274.24 million, and its market cap stands at $7.93 billion.
If LINK's price can surpass and sustain above the key EMAs, it could trigger a bullish rally. However, if the price is rejected at these levels, the bearish momentum may continue.
<h4>Conclusion</h4>
Chainlink (LINK) is showing signs of potential recovery, with significant accumulation by key stakeholders and positive technical indicators. While mixed signals persist, surpassing key EMAs could trigger a bullish rally. However, it Link price failure to do so may continue the bearish trend.
Also Read: <a href="https://www.coingabbar.com/en/crypto-currency-news/hamster-kombat-coindcx-listing-rumor-reality" title="Hamster Kombat Listing on CoinDCX: Rumor or Reality?" class="f-link" rel="noopener noreferrer nofollow">Hamster Kombat Listing on CoinDCX: Rumor or Reality?</a>

Will Whale Activity In Chainlink Boost LINK Price?

Table of Contents

Coingabbar

Egyéb ezen a dátumon (2024. júl. 13.) megosztott cikkek

Mafia Tate Solana Memecoin Will Skyrocket Over 14,000% Before KuCoin Listing, While SHIB and DOGE...

New on App Store: BlockDAG’s X1 App for Daily Mining of 20 BDAG Coins, Plus TRON Price Analysis &...

Avalanche Price Prediction: Top Analyst Predicts 200% Surge Soon!

MoonBag Tops Meme Coin List, Tagged Best Presale in July 2024 As EOS and Aptos Face Volatility

Is BlockDAG the Top Crypto to Invest In? Community Thrives with $2M Giveaway Amid Dogecoin Fluctu...

Compound Finance Site Breach – Crypto Investigator ZachXBT Says Website Potentially Compromised

Join our free newsletter for daily crypto updates!