Chainlink Whale Moves Intensify—Can LINK Finally Smash Past Resistance?
The post Chainlink Whale Moves Intensify—Can LINK Finally Smash Past Resistance? appeared on BitcoinEthereumNews.com. Chainlink whale transactions spiked over 3,373% in 24 hours, totaling $762.7 million, indicating strategic repositioning and hinting at a potential local bottom. CoinGlass data reveals significant long hedges at $12.55 and short positions near $13.35, suggesting LINK’s price movements. ChainLink is one of the cryptocurrencies that are on the rise, with LINK climbing above the $13 price mark after it fell significantly over the weekend, owing to the U.S. intervention in the Iran-Israel war. On Tuesday, June 24, the LINK price gained 9.63% to $13.04 as U.S. President Donald Trump announced a ceasefire between Iran and Israel. Chainlink Price Analysis Today Despite a 22% decline in the LINK price previously, a surge in high-value transactions has reignited speculation of a potential reversal, which appears to have already begun. Whale movements, which typically involve large transactions made by institutional or high-net-worth investors, have spiked dramatically, suggesting a strategic repositioning. According to data monitoring of on-chain activity, whale transactions of LINK skyrocketed by over 3,373% in 24 hours, totaling a staggering sum of $762.7 million. One of the most remarkable transfers was the unlocking and locking of 17.875 million LINK worth about $149 million to Binance. This splurge of liquidity was coupled with a general market occurrence that liquidated crypto positions worth $458 million. These timely transactions, especially during a significant sell-off, are drawing the attention of both analysts and traders. Typically, whale activities are regarded as bullish indicators, suggesting that a crypto asset may be approaching a local bottom. Moreover, the recent movements point to the idea that Chainlink price has reached a local bottom as well. The market opinion is mixed, though. Data on CoinGlass shows that the market is highly concentrated on the bets in the options market, as the long hedges amount to $9 million at the $12.55…
The post Chainlink Whale Moves Intensify—Can LINK Finally Smash Past Resistance? appeared on BitcoinEthereumNews.com.
Chainlink whale transactions spiked over 3,373% in 24 hours, totaling $762.7 million, indicating strategic repositioning and hinting at a potential local bottom. CoinGlass data reveals significant long hedges at $12.55 and short positions near $13.35, suggesting LINK’s price movements. ChainLink is one of the cryptocurrencies that are on the rise, with LINK climbing above the $13 price mark after it fell significantly over the weekend, owing to the U.S. intervention in the Iran-Israel war. On Tuesday, June 24, the LINK price gained 9.63% to $13.04 as U.S. President Donald Trump announced a ceasefire between Iran and Israel. Chainlink Price Analysis Today Despite a 22% decline in the LINK price previously, a surge in high-value transactions has reignited speculation of a potential reversal, which appears to have already begun. Whale movements, which typically involve large transactions made by institutional or high-net-worth investors, have spiked dramatically, suggesting a strategic repositioning. According to data monitoring of on-chain activity, whale transactions of LINK skyrocketed by over 3,373% in 24 hours, totaling a staggering sum of $762.7 million. One of the most remarkable transfers was the unlocking and locking of 17.875 million LINK worth about $149 million to Binance. This splurge of liquidity was coupled with a general market occurrence that liquidated crypto positions worth $458 million. These timely transactions, especially during a significant sell-off, are drawing the attention of both analysts and traders. Typically, whale activities are regarded as bullish indicators, suggesting that a crypto asset may be approaching a local bottom. Moreover, the recent movements point to the idea that Chainlink price has reached a local bottom as well. The market opinion is mixed, though. Data on CoinGlass shows that the market is highly concentrated on the bets in the options market, as the long hedges amount to $9 million at the $12.55…
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