📊 Whale Activity Sparks Interest: A Chainlink ( $LINK ) whale withdrew 594,998 LINK worth $17.31M from Binance, fueling speculation about long-term confidence or significant market moves. LINK is currently trading at $24.63, down 9.11% in the past 24 hours.
📉 Resistance and Momentum: LINK is testing a critical resistance zone at $24–$25, a barrier in previous rallies. The MACD indicates bullish momentum, but it is weakening. With an ADX of 41.52, the trend remains strong. Breaking this resistance could push LINK toward the $30.99 target, while failure could lead to a pullback to $22 support.
📈 Address Activity Shows Mixed Trends: New addresses increased by 1.94%, signaling fresh interest, but active addresses fell by 1.39%, indicating reduced engagement. The 13.87% drop in zero-balance addresses shows confidence among long-term holders, though short-term uncertainties persist.
📊 Transaction Growth Reflects Market Interest: The transaction count rose 0.69% to 12.11K, showing growing market activity. Whether this is due to whale withdrawals or broader market dynamics remains uncertain, but the increase suggests preparation for significant price movement.
💡 Lower Exchange Reserves Reduce Selling Pressure: LINK reserves on exchanges dropped 0.17%, aligning with whale withdrawals. This signals reduced selling pressure and stronger holder sentiment, though declining liquidity requires caution.
🔥 Conclusion: LINK is at a pivotal point. Clearing the $25 resistance could trigger a bullish breakout, but faltering momentum may lead to retracement. Traders are closely watching this critical level for short-term direction. 🚀📉
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