Chainlink (LINK) has seen significant price growth, increasing by 4.5% in the last 24 hours and 8.2% over the past week. This rise is attributed to whale accumulation and rising RSI, indicating positive market sentiment.
The EMA lines show a bullish setup, suggesting the possibility for further gains. However, caution is advised as LINK approaches overbought levels. Key support and resistance levels will influence whether the uptrend continues or if a pullback occurs.
The number of whale addresses holding LINK increased to 541 but paused recently, signaling potential consolidation. Monitoring whale activity will provide insights into whether LINK will see further price increases or experience consolidation.
With an RSI nearing overbought levels, future gains may be possible before a potential correction. An RSI above 70 typically indicates overbought conditions, suggesting traders should watch for potential resistance levels.
If LINK's price breaks the $12.97 resistance, it might increase by 14% to $13.91. Conversely, breaking below the $10.86 support could lead to an 18% price correction, highlighting the importance of these key levels in LINK's future performance.
