CandleFocus Chainlink (LINK) Price Pulls Back as Whale Activity Declines in December
2024-12-18
Author: Content Editor
The price of Chainlink (LINK) has reached its highest levels in three years, with an 87% gain over the past 30 days. However, the price has pulled back nearly 5% in the last 24 hours, indicating potential short-term weakness. Whale activity, or the number of large holders, has been declining since late November, suggesting caution or profit-taking among major investors. This decline could potentially lead to short-term selling pressure on LINK. The BBTrend indicator shows that the positive trend is weakening, indicating potential consolidation or retracement in the short term. If the support at $26.89 fails, the price could decline further, but if the uptrend regains momentum, it could test the resistance at $30.94.
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