Chainlink Whales Go on a Buying Spree After Price Dip
Chainlink (LINK) has caught the attention of large investors once again, with on-chain data revealing that whales scooped up more than 800,000 LINK during the recent price dip.
Market analyst Ali highlighted the move, noting that addresses holding between 100,000 and 1 million LINK significantly increased their balances in the past few days.
The buying spree comes as LINK managed to stabilize around the $21–$22 range, even after facing selling pressure earlier this week. According to TradingView data, LINK is currently trading at $21.93, marking a slight daily gain of 1.29%. Despite the rebound, the Relative Strength Index (RSI) shows mixed signals, sitting at 51.74 on the daily chart, suggesting a neutral momentum after briefly dipping toward oversold levels.
Chainlink’s price has seen repeated tests of the $20 support zone, an area that whales appear keen to defend with their recent accumulation.
Historically, large-scale buying from whales has often acted as a cushion against further downside, potentially laying the groundwork for a stronger recovery if market sentiment improves.
While LINK still trades below its recent September highs near $25, the consistent inflows into whale wallets could be a sign of confidence in the project’s long-term outlook. Traders are now watching whether LINK can reclaim the $23–$25 range, which has proven to be a key resistance area in recent months.
With volatility expected to persist across the crypto market, Chainlink’s resilience near $21 and notable whale activity may set the stage for its next big move.
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Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
