Chainlink Whales Dump Over 170 Million LINK In Three Weeks – Selling Pressure Ahead?
Chainlink is currently trading at critical demand levels amid significant selling pressure in the crypto market. The price has declined 17% since March 26, struggling to break above key resistance levels. Despite some stabilization in price action, concerns persist due to the sale of over 170 million LINK by whales in the past three weeks, indicating a lack of confidence among large holders. Analysts warn of potential deeper corrections and continued bearish sentiment across risk assets. The overall market remains cautious, with traders hesitant to re-enter until clearer bullish signals emerge. Chainlink's ongoing expansion in the decentralized finance space offers long-term hope for recovery, but current whale activity and market sentiment will heavily influence its next moves. Holding the current support zone is crucial; a break below could lead to further losses, while reclaiming higher resistance levels may signal a recovery phase.
