Chainlink (LINK) Large Accumulation: Bullish Signal or Just Consolidation in March 2025?

Jakarta, Pintu News – In the past 24 hours, 640,000 Chainlink (LINK) shares have been withdrawn from exchanges, signaling potential accumulation by long-term investors. According to data from Santiment, these large movements are often interpreted as bullish signals, as investors who withdraw their assets from exchanges usually intend to hold them for the long term, rather than sell them immediately.

However, despite signs of accumulation, the Chainlink market is still in a state of flux. LINK’s price has fluctuated sharply in recent weeks, dropping from IDR277,100 ($17) to IDR192,300 ($11.8), before rebounding to IDR260,800 ($16) and now consolidating around IDR229,600 ($14).

Market Sentiment and Challenges Facing LINK

1. Resistance at Key Resistance Levels

Currently, LINK is still facing selling pressure at the key resistance level of IDR244,500 ($15). If the price is able to break this level, the potential for an increase to IDR277,100 ($17) is greater. However, if it fails to break through, LINK could correct back to the support level of IDR220,050 ($13.5).

Bulls need to keep the price above IDR220,050 to avoid more selling pressure. If the price drops deeper, there is a risk of LINK returning to the IDR163,000 ($10) range.

Also Read: Ethereum Prediction: Recovery or Bearish Signal? Here’s the Mid-March 2025 Technical Analysis!

2. Impact of Accumulation by Whale

Large investors or whales pulling LINK off the exchange could potentially reduce selling pressure and create price stability. However, without confirmation from other technical indicators, this accumulation is not enough to ensure a significant price rally.

If LINK is able to break the resistance level and hold above IDR244,500 ($15), then it is likely that the bullish trend will be stronger. But if selling pressure increases, this accumulation may just be part of a consolidation phase before a bigger move occurs.

LINK Price Movement Prediction Going Forward

Bullish Scenario: Potential Rally if Past IDR244,500 ($15)

If buying pressure increases and LINK manages to break the Rp244,500 ($15) level, then the next target is Rp277,100 ($17). In this scenario, LINK needs to cross the 200-day moving average (MA) and exponential moving average (EMA) to confirm a bullish trend reversal.

Bearish Scenario: Risk of Correction if Not Holding Support

Conversely, if LINK fails to hold above the IDR220,050 ($13.5) level, selling pressure could intensify, pushing the price down to IDR163,000 ($10). Under these conditions, the bearish trend will get stronger, making a short-term recovery more difficult.

Conclusion: Accumulate LINK, Bullish Signal or Still Consolidating?

The withdrawal of 640,000 LINKs from the exchange provides an indication of accumulation that could potentially ease selling pressure. However, LINK’s price still faces challenges to break the key resistance at IDR244,500 ($15).

Investors need to monitor whether bullish momentum can form in the next few days. If the price manages to rise and stay above IDR244,500, the potential for a rally to IDR277,100 is getting bigger. However, if it fails, there is a possibility that LINK will still consolidate or even experience further correction.

Also Read: XRP Predictions and Impact on Crypto Market: 8% Drop After Positive Trend March 2025

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• NewsBTC. 640,000 Chainlink (LINK) Withdrawn from Exchanges in 24 Hours – Bullish Accumulation? (Accessed March 17, 2025).
• Featured Image: Bitcoinist