Whales Load Up on Chainlink as Price Nears Key Resistance

Chainlink's (LINK) price has been showing signs of improvement due to increased accumulation by whales, which have bought over 14 million LINK tokens in the last three weeks. This suggests growing confidence among large holders and not aggressive profit-taking.

The steady increase in whale balances may be a sign that institutional-sized participants preferred accumulating during periods of stable prices rather than chasing rallies.

Large-scale accumulation often reduces available circulating supply over time, which could support higher prices if demand continues to increase. However, traders would still need broader market participation because whale purchases alone rarely sustain prolonged rallies without additional spot demand.

Binance's top traders have maintained a clear bullish bias despite LINK's recent consolidation below resistance. Long accounts represented 67.57% of positions while short accounts accounted for 32.43%, producing a 2.08 Long/Short Ratio.