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3h ago

Whale Buying and Exchange Outflows Tighten LINK Supply as Chainlink Holds Near $23

Traders are watching a hold above the low‑$20s as a potential springboard toward the next resistance zone near $28–$32.

Chainlink whales cut supply by 1.25M – LINK traders, the truth lies at $23!
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Overview

  • Whales accumulated about 1.25 million LINK in 48 hours and large‑holder wallet counts have risen, indicating sustained big‑buyer demand.
  • Centralized venues recorded roughly $1.84 million in net outflows and spot activity increased, suggesting a thinner tradable float.
  • LINK hovered around $23, with market focus on support near $22 and overhead barriers around $28–$30 within a broader $28–$32 supply zone.
  • Shorts saw about $180,000 in liquidations versus roughly $14,000 for longs as MACD and other momentum gauges stayed constructive, adding squeeze risk.
  • Analysts outline conditional upside toward $31–$40 if momentum persists, while downside references include support near $18.8 and a realized price around $15; a reported PublicAI integration is cited as an added adoption tailwind.