LINK Whale Buys 1.58M Tokens as Chainlink Price Targets Recovery
Key Insights:
- Chainlink (LINK) price lost $8.38 support as sellers gained short-term control.
- A whale accumulated 1.58M LINK, worth about $13.2M, through Binance transfers.
- Sellers may target $7.67 and $7.40 unless buyers reclaim $8.38.
Chainlink price is under renewed pressure after LINK lost the closely watched $8.38 support level. The move weakened a rising trendline that had guided Julyโs recovery. At the same time, a large wallet accumulated 1.58 million LINK through several Binance transfers.
Onchain Lens valued the holdings near $13.2 million during the accumulation period. The wallet now controls roughly 1.58 million tokens, worth about $13.3 million at recent prices.
That contrast has sharpened the crypto marketโs attention. Technical signals favor sellers, while the LINK whale activity suggests demand may still be building below the surface. Traders now need confirmation from price, not assumptions about one walletโs plans.
Chainlink Price Breaks Support as Sellers Gain Control
Chainlink (LINK) market data shows LINK trading between $8.31 and $8.48. The key chart change was the loss of $8.38, which had supported the recent rebound.
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