Whale withdrew 57,000 LINK, fueling accumulation speculation among traders. LINK holds key support near $10.70 while testing resistance at $11.00. Analysts see a potential rally toward $15 if
Chainlink is back on traders’ radar after a fresh wave of whale activity. While the broader crypto market remains quiet, LINK continues to defend a key support zone near $10.70. Recent withdrawals from Binance have sparked speculation about accumulation. At the same time, technical analysts see signs of a possible trend reversal. With price hovering around $10.85, attention now shifts to whether buyers can push LINK above the crucial $11 mark.
https://twitter.com/OnchainLens/status/2118914710561231288?a=RqRZmvJCjHFeDzooMKk&s=19On-chain data has highlighted notable activity from a large LINK holder. According to reports from Onchain Lens, a whale recently withdrew another 16,900 LINK from Binance. The transfer carried a value of roughly $181,640 and moved into a multisignature wallet. This transaction was not an isolated move. During an 18-hour period, the same wallet withdrew 57,000 LINK across four transactions.
Those holdings carry an estimated value of $612,550. Many traders monitor exchange outflows closely. Assets stored on exchanges can be sold quickly. Funds moved into private wallets often suggest a longer holding strategy. Still, wallet movements alone do not confirm intentions. The holder may seek stronger security or portfolio management. Future transactions will provide clearer signals.
If additional withdrawals continue, market participants may view the trend as steady accumulation. However, a return of those tokens to exchanges would change that narrative. Meanwhile, price action remains tightly compressed. LINK trades within a narrow range between $10.70 and $11.00. This zone has become a key battleground for both buyers and sellers.
Several analysts believe LINK may be approaching an important turning point. Investor Jordan recently highlighted a possible double-bottom pattern on the chart. This setup forms when price revisits a previous low before stabilizing. The pattern often signals fading selling pressure. If confirmed by stronger buying volume, Jordan believes LINK could rally toward $15.
Such a move would represent a gain of roughly 38% from current levels. Jordan also noted that LINK has maintained value better than many alternative cryptocurrencies during recent market weakness. However, a break below support would invalidate the bullish setup. Michaël van de Poppe views the market through a different lens. He points to the length of LINK’s decline since September.
After nearly six weeks of downward movement, he believes the asset may be close to a bottom. According to his outlook, current levels could offer an attractive accumulation zone. A confirmed bottom would strengthen the case for a broader recovery. Beyond price action, Chainlink continues expanding operations across Asia-Pacific markets.
