- Chainlink price consolidates around $40.
- The MACD shows increasing bullish momentum.
Over the last three weeks, the Chainlink price jumped from $24.75 to $40.50, growing by more than 50%. During this upward surge, LINK rose in an upward channel formation and flipped the 20-day and 50-day SMAs from resistance to support.
Chainlink Price On An Upward Charge
Over the last two days the Chainlink price failed at the $45 resistance barrier and dropped down. There are two signs that shows us that the overall market sentiment around LINK is positive:
- The MACD shows increasing bullish market momentum.
- The relative strength index (RSI) shows that the price still has room for growth.
Image: LINK/USD daily
Looking at IntoTheBlock’s IOMAP, we can see a healthy support wall at $32.75. Previously, at this level, 5,000 addresses had purchased almost 13.5 million LINK tokens.
Top 10 Whale Addresses Hold >65% Of LINK Tokens
Chainlink shared this chart and tweeted the following:
"The amount of #Chainlink held by top 10 whales was 68.7% of the total supply 6 months ago. With its $44.12 #AllTimeHigh and wide network growth, this # is down to 64.3%.Also, the amount of $100k+ transactions has been at #ATH levels the past three days."
Chainlink Price Is Expected To Reach These Levels
The Chainlink price will probably retest the $43 resistance barrier and approach the $45-line.