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Jakarta, Pintu News – Chainlink (LINK) prices have recently shown potential for a breakout, despite still being in a downtrend phase. In the past 24 hours, its value dropped by 1.89%, while on a weekly basis it recorded a significant decline of 14.5%.
Despite the pressure, Chainlink is still holding in the upper range of its recent price. Accumulation activity by large investors (whales) who accumulated 150,000 $LINK is a strong indicator of a possible price recovery.
Prices have broken a major support trend line that has held for more than two years. This change in trend comes in the context of global market conditions, including concerns over the impact of US tariffs on the world economy as well as decreased expectations of an interest rate cut by the Federal Reserve in December.
This drop is part of an overall market bearish trend that has also affected other major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
The activity of Chainlink’s whales has recently attracted attention after a number of large wallets were recorded accumulating around 150,000 $LINK tokens in the past few sessions. This movement has led to speculation that $LINK could potentially enter a new breakout phase.
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Reports show that major wallet holders have significantly added to their holdings, reflecting strong market interest in these assets.
The surge in whale activity raised questions among traders about the possibility of Chainlink’s price reaching the next high. Along with the increase in accumulation, LINK’s price is also showing a sharp upward trend, which is a strong indicator that the asset may soon enter a breakout period.
Chainlink (LINK) price is currently down to $14.11, reflecting a bearish sentiment with a 15% decline over the past week. This correction is a continuation of the downward trend that has been ongoing since the beginning of the month.
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LINK is having a hard time maintaining a position above $15 due to persistent selling pressure, as well as the inability to break the important resistance zone around $16.
The MACD indicator shows weak bullish momentum, with the blue line slightly above the signal line. Nonetheless, the bearish trend is still dominant, reflected by the negative histogram which indicates selling pressure is starting to weaken.

The MACD line approaching the zero level signals market uncertainty. Meanwhile, the ADX value of 32 indicates that the trend is still quite strong but not extreme.
The current direction of price movement suggests the potential for continued selling pressure in the coming days, which could lead to a retest of the support level at $14.00. If prices fail to hold above this level, a further drop to $13.00 or lower becomes a possibility.
Traders will be watching for trend reversal signals in the next few days, especially if prices return to the $15 range. A retest of this level could open up opportunities for a further rally towards the resistance area around $16.
Chainlink (LINK) is a cryptocurrency that functions as a decentralized oracle network, allowing smart contracts on the blockchain to interact with real-world data.
Chainlink (LINK) prices fell as the crypto market in general went through a bearish phase, coupled with concerns about US tariffs and lower expectations for interest rate cuts by the Federal Reserve.
The whales have raised around 150,000 LINK tokens recently, indicating great interest from large wallet holders.
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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 and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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