A whale accumulated 1.58 million LINK worth approximately $13.2 million through multiple Binance withdrawals over the past week, reducing the supply readily available on exchanges. On Binance, 69.8% of top traders maintained long positions with a Long/Short Ratio of 2.31, reflecting sustained bullish conviction among experienced derivatives participants. LINK held above the $8.18 support level, but technical indicators such as MACD and Parabolic SAR signaled weakening buying strength and a return of short-term seller control. The densest liquidation cluster sits around $8.215 with approximately 164,670 LINK in leveraged exposure, making this level the primary short-term price magnet. Whale accumulation reinforces Chainlink’s long-term outlook, but technical weakness and concentrated downside liquidity suggest LINK will likely test that liquidity zone before attempting another sustained advance.
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