On Thursday, a massive whale sell-off has impacted the Chainlink (LINK) market. Data from Onchain indicates that the whale has sold 356,665 tokens, causing a 1.34% price decrease in the last 24 hours, bringing the token price to $13.2. However, some analysts predict a long-term increase in LINK price up to $45. According to Onchain Lens data, this whale has sold its tokens at an average price of $12.88, totaling $4.59 million. Such heavy sales usually signal a lack of confidence in asset growth, potentially leading to weaker price performance in the future. Nevertheless, this sale may be merely due to short-term emotions. Interestingly, the whale still holds 7,693 LINK tokens worth $101,533, indicating hope for price recovery and not completely exiting the market. Based on Bitcoin Buddha analysis, Chainlink shows signs of price recovery after touching the $12 support, potentially leading to an upward trend. Other analysts believe that the Chainlink chart forms a strong bullish pattern favorable to buyers. Overall, reaching the $45 target is still possible, provided Chainlink can maintain its key support in the $6 to $9 range. Visit the live digital currency price page for real-time updates on token and cryptocurrency prices.
