Million

Chainlink

View

Time

<p>LINK, the native token of Chainlink, is currently making waves in the cryptocurrency realm with increasing interest from whales and long-term holders, as reported by the on-chain analytics firm Coinglass.</p>  
<h2 class="wp-block-heading" id="h-crypto-whales-add-75-million-worth-of-link-nbsp"><strong>Crypto Whales Add $75 Million Worth of LINK&nbsp;</strong></h2>  
<p>The on-chain metrics for LINK's spot inflow/outflow reveal that exchanges have witnessed a significant outflow of $75 million worth of <a href="https://coinpedia.org/price-prediction/chainlink-price-prediction/" rel="noopener noreferrer nofollow">LINK</a>. Further data indicates that this notable outflow occurred over the past three trading days.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/12/18195612/image-123.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/18195612/image-123-1024x283.png" alt="LINK's spot inflow/outflow" class="wp-image-394786"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>  
<p>In the cryptocurrency context, “outflow” refers to the movement of assets from exchanges to wallets, indicating that long-term holders are withdrawing tokens. Additionally, this substantial accumulation suggests a potential upside rally and an ideal buying opportunity.</p>  
<p>However, this notable interest from crypto enthusiasts arises during a period when LINK appears to be struggling and has experienced a price decline.&nbsp;</p>  
<h3 class="wp-block-heading" id="h-current-price-momentum-nbsp"><strong>Current Price Momentum&nbsp;</strong></h3>  
<p>Currently, LINK is trading near $27.22 and has experienced a price decline of over 5.5% in the past 24 hours. During the same period, the asset’s trading volume decreased by 18%, indicating lower participation from traders and investors compared to previous days.</p>  
<h3 class="wp-block-heading" id="h-indicator-flashing-buy-signal-for-link"><strong>Indicator Flashing Buy Signal for LINK</strong></h3>  
<p>Despite the ongoing price decline, on December 18, 2024, a prominent crypto expert posted on X (formerly Twitter) that the TD Sequential indicator is flashing a buy signal for LINK on the four-hour timeframe, suggesting the price could soar to $30.2 in the coming days.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/ali_charts/status/1869340079933583550
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-chainlink-link-technical-analysis-and-upcoming-level"><strong>Chainlink (LINK) Technical Analysis and Upcoming Level</strong></h2>  
<p>Currently, LINK has breached a consolidation zone near the support level of $28, shifting market sentiment towards the bearish side. Based on recent price action, if this sentiment persists, there is a strong possibility that LINK could decline by 20% to reach the next support level at $21.75.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/12/18195710/LINKUSDT_2024-12-18_19-57-03.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/18195710/LINKUSDT_2024-12-18_19-57-03-1024x448.png" alt="" class="wp-image-394788"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>  
<p>At present, LINK appears to be extremely stretched, as it is significantly far from the 200 Exponential Moving Average (EMA) on the daily timeframe, which hints at a potential uptrend.</p>

Time to Buy LINK? $75M in Chainlink Moves to Crypto Wallet

Table of Contents

CoinPedia News

Other articles published on Dec 18, 2024

Unlock Massive Potential: Qubetics Hits $6.9M, Cronos Expands Rapidly, Stacks Set to Skyrocket to...

Crypto Community Criticizes Coinbase Over Wrapped Bitcoin Delisting

Can Bitcoin Safeguard Ohio’s Treasury? A New Bill Aims to Find Out

Shiba Inu Price Eyes Major Breakout Amid BTC Surge And Meme Coin Rally

Fed Signals Slower Rate Cuts as Economic Outlook Shifts

Phantom Wallet: A Guide to Managing Solana and NFTs

Join our free newsletter for daily crypto updates!