2.23 Million Chainlink Moved To Exchanges In Two Weeks – Selling Pressure Incoming?
Chainlink (LINK) has experienced significant price volatility, dropping from $17 to $13 before rebounding to $16 within three days. This fluctuation reflects broader market instability, influenced by President Trump’s U.S. Strategic Crypto Reserve announcement and ongoing macroeconomic uncertainties. On-chain data indicates that 2.23 million LINK have been moved to exchanges recently, suggesting increased selling pressure from large holders. LINK is currently trading below key resistance levels, particularly the $16.6 mark, with bulls struggling to regain momentum. Maintaining support above $15 is critical to avoid further downside. A breakout above $17.9 could signal bullish sentiment, while failure to hold $15 may lead to deeper corrections. The next few days are pivotal for determining LINK's short-term direction.
