LINK has completed a consolidation zone since June, and the price has risen from a low of nearly $7 to a $9.04 resistance position, the most recent hovering around $9.45. As the price station moved up and up, the market began to observe whether the upway of the wheel could be sustained, rather than just short-lined upwards.
The whale trade went up to five months.
The chain-based data platform Santiment shows that single LINK transactions exceeding $100,000 reached 246, the highest level since March. At the same time, there are between 100,000 and 10 million LINK addresses, which currently together control the supply of about 46.57 per cent of the coins, or 466,3.1 million LINK.
Large holding address activity has increased, in the phase of LINK approaching and breaking the 9.04 US dollar resistance position, rather than on its earlier decline. This means greater financial participation, more so after price restoration.
Money flows are still strong.
In terms of technical indicators, CMF Report 0.18 shows that net inflows continue. The relative strength and weakness indicator RSI rises to 71.40, which reflects a stronger short-line kinetic energy, but is also in the heat zone.
Such combinations usually mean that the purchase is still in place, but may also occur in the short term, sorting out or partially vomiting. For the current trend, the US$ 9.04 has shifted from resistance in the previous period to the first critical support position, and if prices continue to hold steady, it is easier to break through the structure to be recognized by the market.
$9.97 becomes a drag.
Next, the market first focused on the $9.97 line. This is the next major resistance that Link faces in the short term. If it continues, the 10 dollar integer will become a more critical psychological juncture.
If the purchase continues, $10.80 will be the next area of higher resistance. If the trend is reversed, the range between $8.58 and $8.49 is the support belt below that needs to be observed. As long as the region is not visibly broken, the current rehabilitation structure is expected to be maintained.