Chainlink: Can $22M whale move push LINK’s price above $14?

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Well, after giving it a go days ago, Chainlink [LINK] tried to break out, but alas, it was rejected at $14.9. Poor thing. And now, LINK is trading at $13.63-down 4.15% on the daily charts, because who doesn’t love a good dip? 😏

But here’s where things get interesting, folks-this little setback has created the perfect buying window, and guess who’s jumping in? That’s right, the whales. 🐋

Whale Accumulates $22M Worth of LINK

Since early November, LINK has been a playground for whales, with massive orders flooding in. According to Spot Average Order Size data from CryptoQuant, we’ve seen Large Whale Orders for a whopping 28 consecutive days. That’s one dedicated bunch! 🐋🐋

Now, I don’t know about you, but when whales stick around for this long, something is definitely cooking. They’re either buying or selling, and in this case, they’re buying-big time. 🛒

One whale, in particular, has gone all in. According to Onchain Lens, this whale snatched up a cool 1.62 million LINK tokens worth $22.01 million from Binance and Kraken. That’s some serious pocket change! 💸

Two days ago, the same whale grabbed another 557.94K LINK worth $8.03 million. In total, they’re sitting pretty with 2.18 million LINK. All I can say is, this whale clearly has a lot of faith in LINK. If it were a stock, we’d call it a ‘strong buy’ rating. 📈

And it’s not just whales-exchange activity is mirroring this accumulation. According to CryptoQuant, Exchange Netflow has dropped again, reaching -151k tokens. Now, I’m not saying this is some fancy code for “they’re taking it all out,” but… they’re definitely taking it all out. 🏦

Negative Netflow? That’s basically code for “everybody’s hoarding.” 🏠💰

Why is LINK Struggling, Though?

While the whales are busy snapping up LINK like it’s the last discount on Black Friday, retail investors? Well, they’re doing what retail investors do best: cashing out. 💰

When LINK hit $14.9, it was retail traders who decided it was time to sell off their stash. According to Coinalyze, Chainlink saw a negative Buy/Sell Delta for three consecutive days. Ouch. 😬

Over that stretch, retail sellers offloaded 8.1 million in volume, while buyers only scooped up 7.32 million. The result? A Buy/Sell Delta of -0.78 million-meaning there was more selling than buying. And as we all know, selling pressure = bad news for price. 😱

Can Whales Clear $14 Resistance?

So here’s the big question: Can these whales push LINK past the $14 resistance? In theory, yes. In practice, not so much. Despite all the accumulation, whale buying hasn’t been enough to overpower the retail selling pressure. Classic catch-22. 🐍

Chainlink’s Stochastic RSI just made a bearish crossover, dropping to 74. A low number? Nope, it’s just a sign of more trouble ahead. 📉

And the Directional Movement Index (DMI) isn’t looking great either. The positive index is chilling below the negative index at around 19. You know what that means, right? Sellers are still firmly in the driver’s seat. 🏎️💨

When these indicators stay in this state, it’s a pretty clear sign: downtrend alert. 🛑

So what’s the outlook? Well, if retail sellers keep doing their thing, LINK could keep falling, maybe finding support around $12.7. But if whales turn up the buying pressure enough, we could see LINK smashing through that $14 resistance, hitting $15, and dreaming of $16.7. 🤩

Final Thoughts

  • Whale bought 1.62 million LINK tokens worth $22.01 million
  • LINK dropped 4.15% after facing rejection, as upward momentum weakens.

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2025-12-06 16:18