Chainlink (LINK) price is up roughly 4.5% in the last 24 hours and 8.2% over the past week, signaling renewed momentum. This recent growth has been supported by increasing whale accumulation and rising RSI, reflecting positive sentiment.

The bullish setup of EMA lines suggests there could still be room for further gains, though caution is needed as LINK nears overbought levels. Key support and resistance points will determine whether the current uptrend continues or faces a potential pullback.

LINK Whale Accumulation Pauses: What Comes Next?

The number of addresses holding between 100,000 and 1,000,000 LINK has been steadily increasing over the past week, rising from 525 on October 14 to 541 by October 20. This accumulation by whales coincided with LINK price rising from $11.26 to $11.95 in the same period.

However, between October 20 and October 21, the number of whale addresses holding LINK remained stable at 541, indicating a pause in accumulation.

Read more: Chainlink ETF Explained: What It Is and How It Works

Monitoring this metric will be key to understanding whether whales resume buying, which could signal expectations of further price increases, or if they maintain their positions, hinting at a possible consolidation or decline in LINK’s price.

Chainlink RSI Nears Overbought: More Gains Before a Pullback?

LINK’s Relative Strength Index (RSI) is currently at 63.96, up from 55 just yesterday. This increase indicates growing momentum, with buying pressure pushing the asset closer to an Go to Source to See Full Article
Author: Tiago Amaral