- Chainlink trades at $11.332, down 1.53%, approaching the $11.00–$11.20 support zone.
- Whales accumulated 10.36 million LINK over four days, Ali Charts reports.
- Daily RSI cools to 50.68, while analysts monitor $11.80 for recovery.
Chainlink price trades at $11.332, down 1.53%, following a rejection near $13.50 on the daily chart. Buyers now face a support test between $11.00 and $11.20 as momentum weakens.
Meanwhile, Ali Charts reports that large holders accumulated 10.36 million LINK over 96 hours, worth approximately $120 million. The purchases followed a separate measured correction from $13.68 to $11.29.
Chainlink Price Pullback Attracts Large-Holder Buying
Ali Charts describes the recent accumulation as whales buying the decline. He suggests these holders may be positioning for a recovery following the roughly 17% correction.
The reported purchases span four days, although the update does not identify individual buyers. Their accumulation indicates increased holdings without confirming when they expect prices to recover.
Separately, Michaël van de Poppe outlines two potential trading setups. He would consider longs after $11.80 becomes support if the broader market avoids another decline.
His alternative involves looking for entries around $10 during renewed market weakness. The analyst identifies $15 as his next target zone, without specifying a timeframe.
Daily Support and Cooling RSI Define the Next Price Test
Chainlink price has retreated toward $11.00–$11.20 after its recent rally. Holding that zone could support a rebound toward $12.50, while $11.80 presents an earlier hurdle.
The daily Relative Strength Index stands at 50.68, down from 61.22. This decline indicates cooling momentum, although neither reading represents a conventional overbought condition.
An RSI near 50 places momentum around neutral territory. The indicator does not currently show an oversold reading.
A break below $11.00 would weaken the immediate recovery setup and expose the $9.50–$10.00 region. That area overlaps with van de Poppe’s alternative entry zone near $10.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
