Chainlink Price Breaks Descending Trendline as Reserve Adds $1.1M More

Chainlink's price prediction is gaining attention after it broke out of a descending trendline. The coin has been trading around $11.728, up 5.71% on the day, with a market cap near $8.80 billion and open interest at $604.67 million.

The Chainlink strategic reserve has been quietly adding to its LINK holdings, accumulating 480.7K LINK worth close to $5.5 million over the past 30 days alone. This consistent buying from the project's own reserve is a meaningful signal of conviction from the team itself.

However, broader crypto sentiment and sudden moves in Bitcoin or shifts in macro risk appetite can override coin-specific setups like this one. Additionally, the amounts involved are relatively small next to LINK's overall daily trading volume.