- Whale activity and increased purchase volume may be able to push the link further.
- The daily graph also indicated that the link could continue to fall from the current level.
Last week, Chainlink [LINK] Registered the biggest monthly loss and fell 26.80% after intense market sales.
In the last 24 hours extended link, his downward trend and lost 61.2%. Some market indicators suggested that this decline could deepen before a considerable price movement.
Large resistance level for link
The current downward trend could be a strategic step of market participants to bring the price to a favorable level, where sufficient buy activity can overcome the most important barrier around the $ 23.78 region.
According to the in/outdoors around the price (Iomap) Metriek, this resistance zone contained 110.43 million link -sellers of 96,760 addresses, creating a bottleneck for every upward price movement.
Source: Intotheblock
Per the omap, however, link could decrease to a demand zone between $ 14.27 and $ 16.65, where 152 million link orders of 72,890 addresses can generate sufficient momentum to prevent sales pressure.
Once this demand zone has been reached, the price can get sufficient momentum to break the resistance level.
Whales that drive market activities
Ambcrypto discovered that market whales have exerted downward pressure on the price of Link in the past week.
The big holders Netflow to exchange Netflow-metriek, which follows whale activity compared to retail investors, revealed raised spin sales.
It was 0.27% at the time of the press, which reflects an increase in 30.26% of whale’s market activity.
Source: Intotheblock
If the price from Link drops to the demand zone of $ 14.27– $ 16.65, these whales can join existing buyers, causing the price to rise.
Link’s Chart Movement
Ambcrypto combined Fibonacci retracement lines and technical indicators, including the Relative Strength Index (RSI), to assess potential price movements.
Fibonacci levels help identify possible support and resistance points. Currently, the following support has fallen under the support level of $ 18.01 and the following support is approaching at $ 14.52, tailored to the Iomap demand zone.
Source: TradingView
The RSI, which measures the price momentum and overbought or identifies over -selling circumstances, shows the link that is approaching the over -sold area.
Read Chainlink’s [LINK] Price forecast 2025–2026
At the time of writing, the RSI was 34.16, which indicates a high sales pressure. If link $ 14.52 reaches next to a RSI under 30, a reversal can occur if the sales pressure decreases.
In general, whales cannot only determine the next Rally of Link. If selling CVs and buying CVs, a price rebound could follow.
Credit : ambcrypto.com
