- Whale Address 0x33F7 dumped 722,416 links of $ 11.11m on binance to accelerate the price analysis of LINK.
- The link was broken under the uphill trend line and $ 15 support. Additional disadvantages are aimed at $ 10.85.
The chain link (link) sparked a strong weak signal without a sign of early recovery as the price continued to bleed for three consecutive days.
In uncertainty, the password whale has been found to throw away millions of dollars of link tokens, which appears to accelerate the downward momentum.
Crypto Whale dumps a $ 110 million link
On May 30, Lookonchain made a post on X (previous Twitter) that 0x33f7 had abandoned a 722,416 link token of $ 110 million in the world’s largest cryptocurrency exchange.
This significant token dump occurred as the price has lowered its main support and the price behavior has weakened.
The link to the prestime has dropped 8.25% to $ 14.50 over the last 24 hours. Meanwhile, the volume of trading has soared 45%, which indicates panic exit.
Link leak signal accumulation of $ 33.7 million
According to CoingLass, some investors and long -term holders seemed to capture opportunities by accumulating tokens.
Source: COINGLASS
Spot Outflow data has ended $ 33.7 million in link tokens over the last 48 hours.
Naturally, this type of movement suggests a quiet accumulation by long -term holders and potentially stabilized firepower in volatility.
Weak worth of $ 63 million
Intraday merchants, on the other hand, seem to be following market feelings by strongly betting on the weak side.
Until now, merchants have been relieved excessively at $ 14.29 at the bottom and $ 15.01 (resistance) at the top. At this level, the long position was $ 33 million and the short position was $ 6.3 million.
This indicates that the short bet is quite higher than long. This means that the seller is controlled.
Source: COINGLASS
When combining these data, the trader is not enough nearly near the level of $ 14.29, so the link is weak in the short term and the risk of failure below this level increases.
Chain link price measures and major levels
According to AMBCRYPTO’s technical analysis, the link looks weak and is preparing for a significant dropout amount without signs of initial recovery.
Source: TradingView
With continuous red candles, assets were classified at the main support level, and the upward trend and horizontal level received $ 15.
Based on the historical pattern, if this disadvantage momentum continues and the price is less than $ 14.75, the link is reduced by 25%, which is likely to reach $ 10.85 potentially.
However, optimistic items are available only if the link price returns to $ 15 and $ 16 or more. Until then, there is no sign of optimistic reversal.