Chainlink (LINK) Eyes $25.51 Resistance After $17.85 Breakout Amid Whale Accumulation and Reduced Supply
Main Idea
Chainlink (LINK) is in a bullish phase after breaking the $17.85 resistance, with a target of $25.51, supported by whale accumulation and reduced exchange supply.
Key Points
1. LINK broke the $17.85 neckline, entering Elliott Wave 3, targeting $25.51 as the next resistance level.
2. Whale holdings of LINK increased by 41% in the last 90 days, indicating strong market confidence.
3. Exchange balances of LINK dropped to 273 million, signaling reduced market supply.
4. The launch of Chainlink Reserve and integration into Brazil’s Drex CBDC pilot are fundamental developments supporting LINK's adoption.
5. Technical indicators like MACD show positive momentum, with $20.00 as a key support level.
Description
Chainlink (LINK) has entered a bullish phase after breaking the $17.85 neckline, targeting $25.51 as the next resistance level, supported by whale accumulation and reduced supply. LINK enters Elliott Wave
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