Chainlink Faces Pressure After Whale Sends 984K LINK to Coinbase

• Whale transferred 984,550 LINK worth $9.23 million to Coinbase, raising fresh selling concerns.
• LINK struggled below $9.50 after reaching $9.60, despite strong gains across multiple timeframes.
• Derivatives liquidations reached $162,110, with short positions accounting for most 24-hour liquidations.

Chainlink — LINK, faced fresh selling pressure after a major whale moved 984,550 LINK. The transfer sent roughly $9.23 million worth of LINK to Coinbase. The move followed a month of heavy accumulation from the same wallet. LINK had also gained strongly across the past several weeks. Now, traders face a key question about whether selling could extend. The whale transfer adds another concern as LINK approaches nearby resistance levels.

Chainlink Price Struggles Near $9.40

Chainlink traded near $9.35 after the large Coinbase transfer. The token moved within a daily range between $9.30 and $9.62. Earlier, LINK approached $9.60 before sellers erased the intraday gains. Selling pressure increased after LINK lost the $9.50 level. Buyers then tried to defend the $9.40 to $9.45 zone. However, those attempts failed to produce a meaningful recovery. The recent weakness follows a strong recovery across several timeframes.

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