With strong on-chain support, Chainlink has broken out of the falling wedge pattern—LINK may rebound here.

robot
Abstract generation in progress

Chainlink (LINK) is showing signs of a potential breakout, forming a double bottom pattern near $11.56 and breaking out of a descending wedge. The price is approaching the 50-day moving average, and the Supertrend indicator has reversed, suggesting a possible move toward $20. Supporting this view, exchange balances have dropped from 264 million tokens to 218 million, while whales have accumulated over 2.18 million LINK for 28 consecutive days. Meanwhile, Grayscale LINK Trust continues to see inflows and currently holds $70.6 million in assets, and Chainlink’s strategic reserves have increased to 1 million tokens. Although there is short-term selling pressure, these factors indicate that the market is steadily accumulating and the long-term structure is strengthening.

LINK-2.74%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)