The recent movement of a market whale has drawn attention to the China Link (LINK) market. This large investor has acquired 139,860 LINK units at $14.3 each, bringing their total assets to 147,553 LINK. Currently, the price of China Link is around $13, forming a symmetrical triangle pattern with a descending angle. If LINK can surpass the $15.68 resistance, there is a possibility of reaching $18.18, which would signify a 35% increase. However, the $14.3 level, the desired whale entry zone, remains a significant resistance. Failure to break through this range could lead to a price correction. Moreover, breaking the $12.57 support could invalidate the bullish scenario and result in a deeper price decline. Data indicates two important factors favoring the upward trend of China Link. The Market Value to Realized Value (MVRV) Z-Score is at 3.09, lower than the high levels of 7 in late 2024. This suggests that most holders do not have significant unrealized profits, leading to lower selling pressure. On the other hand, exchange reserves have decreased by 3.11% in recent days, indicating LINK leaving exchanges and investors’ inclination to hold, typically seen as a bullish signal. If LINK can break the $15.68 level, the path to a 35% growth to $18.18 will be smoother. Whale accumulation, reduced selling pressure, and network activity improvement all support this scenario. However, if the $12.57 support is lost, the bullish outlook will be discredited. On the real-time digital currency price page, you can observe the prices of all tokens and cryptocurrencies live and instantly.
