Whales Just Dropped $3.78M on LINK Like It Was a Flash Sale 🐳

Four large wallets accumulated 512,595 LINK, valued at approximately $3.78 million, over a four-day span, according to on-chain data. The largest wallet acquired 120,675 LINK, while the remaining addresses added 251,735 LINK, 113,068 LINK, and 27,116 LINK, respectively. The buying took place while Chainlink [LINK] traded near the lower end of its broader range, positioning large holders ahead of a technical breakout that subsequently pushed the token above $7.47.

Binance's top trader positioning reflected a clear bullish lean despite the prior correction. Long accounts represented 70.39% of positions, while short accounts accounted for 29.61%, producing a Long/Short Ratio of 2.38. Spot market indicators identified Big Whale Orders driving recent activity, while retail trading frequency remained Neutral. That split indicated that recent accumulation originated primarily from larger participants rather than a broad return of smaller investors.

On the technical side, LINK confirmed a breakout above a multi-week descending channel after closing above the upper trendline, breaking a pattern of lower highs that had persisted since early May. The token reclaimed the $7.18 support, which now serves as the first level buyers must defend to keep the breakout intact. The Relative Strength Index climbed to 41.79 from deeply oversold territory, leaving room for further upside.

If LINK holds above the broken trendline and buying pressure continues, the next resistance sits at $8.30, with $9.50 emerging as the subsequent target.