Chainlink Price Tumbles as Sellers Gain Control Amid Whale Activity

Chainlink's price has lost its closely watched $8.38 support level, weakening a rising trendline that guided July's recovery.

A large wallet accumulated 1.58 million LINK tokens through several Binance transfers, worth around $13.2 million at the time of accumulation.

The whale's activity suggests demand may still be building below the surface, but technical signals favor sellers.

Buyers must defend the support area between $8.20 and $8.35 to reclaim $8.38 and repair the short-term structure.