- Link is traded at $ 12.53, 7.28% less in 24 hours.
- Link could increase by 35% if it breaks the resistance of $ 15.68.
- The MVRV Z score in 3.09 suggests an upward accumulation zone.
Chainlink (Link) is quoted at a critical level since market data suggests greater volatility and investor activity.
The Token, whose price is now $ 12.76, has fallen by 7.28% in the last 24 hours.
Fountain: Coinmarketcap
However, technical indicators and whale accumulation suggest the possibility of a significant movement.
An important investor recently bought about 140,000 link for $ 2 million to $ 14.30, indicating a great interest.
Meanwhile, Link is forming a symmetrical triangle and descending wedge patterns typically associated with ruptures.
If the price exceeds the resistance at $ 15.68, it could rise 35% to $ 18.18.
Whale activity and resistance levels
A large holder recently acquired 139,860 link at an average price of $ 14.30, increasing its total holdings to 147,553 link.
This investor previously obtained a gain of $ 161,000 in previous operations with Link, which suggests a pattern of tickets in a timely manner.
These large volume transactions often indicate optimism in the market and precede price increases.
Link currently faces resistance at the whale entry level of $ 14.30, and $ 15.68 remains a key level for bullies.
A rupture above this level could trigger an increase of 35%, reaching an objective price of $ 18.18.
On the negative side, if Link fails to keep the support at $ 12.57, it could fall towards $ 11.50.
Configuration of volatility graphics and signals
Link’s price structure is compressing within a symmetrical triangle and a descending wedge, commonly known as megaphone pattern.
This configuration usually precedes large price movements, with greater volatility and possible ruptures in any direction.
At the current levels, Link is sailing in a narrow range that has historically led to high impact oscillations.
If the price exceeds $ 15.68, operators could see a rapid movement towards the $ 18.00 mark.
This would probably be driven by the coverage of short positions and retail purchases.
On the other hand, a closure below the $ 12.57 support would break the bullish structure, which would potentially lower prices.
Chain metrics show accumulation
The MVRV z score, a key metric to identify overstrum or undervaluation conditions, is 3.09.
Historically, Z scores between 2 and 3 have preceded important links of Link. As a comparison, Link shot more than 120 % in early 2023 after a similar reading.
In addition, active daily addresses have increased to 921, since the minimum of March. This indicates greater user activity and could boost long -term price growth.
Exchange reserves also fell 3.11% to 2,150 million dollars, indicating that there are less Link tokens available for immediate sale.
The reduction of the offer in the bags is usually a sign of strong possession behavior by investors.
The liquidity and confidence of whales grow
The recent investment of 2 million dollars of the whale has aligned with positive chain indicators, including a reduced offer and a growing address activity.
Together, these form an upward configuration against technical resistance and volatile price action.
If Link manages to cross the resistance of $ 15.68, it could rise to $ 18.18.
The next important resistance level would then be around $ 20.
External factors such as Bitcoin ETF flows and the US monetary policy can influence the rhythm of any rebound.
If Link falls below $ 12.57, panic sales could occur, although the support of large holders can help stabilize the market.
The post prediction of the Chainlink price: Link could rise 35% as the whale buys $ 2 million at a key level; Appeared First on coinjournal.
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