Chainlink Whales Pile In, But $16 Resistance Looms

Chainlink's price has been steadily increasing over the past week, reaching $14.06 on September 26 after trading near $10.70 in mid-September.

The accumulation of Chainlink by large holders has been significant, with more than 2.5 million tokens added to their positions over the past ten days, according to data from Santiment.

Crypto analyst Ali Charts pointed out that this whale activity is a meaningful signal for Chainlink's short-term trajectory and may precede notable rallies in the token.

However, there are two distinct resistance zones that could test buyer conviction: $16, where approximately 16.9 million LINK were previously purchased, and $17.70, where roughly 22.7 million LINK were accumulated.