- LINK’s price has dropped 8.18% over the last 24 hours.
- WhaleStats tweeted that LINK is now in the top 10 purchased list among 100 biggest ETH whales.
- A bullish trend reversal may be on the cards for LINK in the coming 24-48 hours.
Chainlink (LINK) experienced an 8.18% price drop over the last 24 hours according to the crypto market tracking website, CoinMarketCap. As a result, the altcoin now trades at around $5.95 at press time. The 24-hour price drop has also added to its negative weekly performance as LINK’s price is down 12.88% over the last 7 days.
LINK has also weakened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 4.61% and 1.24% respectively. At press time, one LINK token is worth 0.0003551 BTC and 0.005036 ETH.
WhaleStats (@WhaleStats), the crypto whale tracking website, posted a tweet this morning that shows that whales have seen the recent LINK price drop as an opportunity to fill their bags. According to the tweet, LINK is now on the top 10 purchased tokens list among the 100 biggest ETH whales in the last 24 hours.
The whale accumulation can also be seen in the daily trading volume for LINK. Trading volume for the altcoin has surged 74.58% over the last 24 hours to take the total to $317,716,640.
Today’s candle is in the green for LINK despite its price being down over the last 24 hours. This follows after 3 daily candles closed in the red from December 14, 2022, to December 16, 2022.
A trend reversal may be on the cards for LINK as the slope of the daily RSI line has turned positive towards overbought territory. This, together with the whale accumulation of LINK over the last 24 hours, could see LINK’s price rise to the next resistance level at around $6.40.
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