Chainlink Whale's $13.2M Accumulation Boosts Long-Term Outlook Amid Weakening Buying Strength
A large Chainlink whale has accumulated $13.2 million worth of LINK over the past week through multiple Binance withdrawals, reinforcing the accumulation narrative and reducing exchange-held supply.
The whale's wallet now holds nearly 1.58 million LINK valued at approximately $13.3 million, showing growing confidence from a large holder despite recent consolidation in the market.
Buyers maintained stable demand while prices remained above key support levels, with Binance traders favoring long positions over short ones, as evidenced by a Long/Short Ratio of 2.31.
However, technical indicators revealed weakening buying strength, and the Parabolic SAR shifted above price near $8.75, signaling that sellers had regained short-term control after the previous advance lost strength.