LINK Price Plunges Below $8.38 as Whale Buys $13M Worth of Tokens

Chainlink's (LINK) price has fallen below its closely watched $8.38 support level, shifting short-term control towards sellers.

The loss of this key level also pushed LINK below a rising trendline that had 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.

This move has sharpened attention in the crypto market and raised questions about demand below the surface.

Technical signals favor sellers, but the whale activity suggests that buyers may still be building momentum.