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- Whale activity and increased buying volume could potentially push the relationship.
- The daily chart also showed that the link could fall further from the current level.
Last week, Chainlink (Link) recorded its biggest monthly loss, falling 26.80% after intense market sales.
In the past 24 hours, the link has extended its trend down, losing 61.2%. Some market indicators suggested that this decline could be deepened before a significant price displacement.
The main level of resistance to the connection
The current decline could be a strategic move of participants on the market to encourage the price to a favorable level, where a sufficient purchase activity could overcome the main obstacle around the region of 23.78 USD.
According to the metrinity in/out of Loney around the price (Iomap), this resistance zone contained 110.43 million sales order with 96,760 addresses, creating a narrow embark for any price growth movement.
Source: Intotheblock
However, according to Iomap, the link could fall on the demand zone between $ 14.27 and $ 16.65, where 152 million bathing orders with 72,890 addresses could create enough momentum to oppose the sales pressure.
Once this demand zone is reached, the price could get enough momentum to break through the resistance level.
Whales running market activity
Ambcrypto has discovered that market whales pressure on the price of the LINK over the past week.
Large Netflow owners for exchanging Netflow metrics, which monitors whale activity in relation to retail investors, have discovered increased whale sales.
At the time of the press it was 0.27%, which reflected the increase in market activities guided by whales of 30.26%.
Source: Intotheblock
If the price of the link falls to a demand zone from $ 14.27 to $ 16.65, these whales can join existing customers, increasing the price upwards.
Link chart movement
AMBCRYPTO combined Fibonacci withdrawal and technical indicators, including the relative strength index (RSI), to assess the movement of potential prices.
Fibonaccia levels help recognize the possible points of support and resistance. Currently, the link dropped below the support level of $ 18.01 and is approaching the following support in the amount of $ 14.52, aligning with the Iomap demand zone.
Source: TraringView
RSI, which measures the momentum of prices and identifies overblowed or overturned conditions, shows a connection closer to the overturned region.
Read the LAANLINK (LINK) Predict price 2025–2026
At the time of writing, RSI was 34.16, indicating high pressure pressure. If the link reaches $ 14.52, along with RSI below 30, a turnaround may occur as the pressure of the sales is silenced.
Generally, whales may not only determine the next set of links. If the sale is withdrawn and the purchase of a CV, the price jump can follow.
