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ChainLink (Link) faces massive volatility and uncertainty with price action similar to roller coaster rides of the past few days. After trading around $17, Link plummeted to $13 before returning to $16. All within 3 days. This extreme price movement reflects wider market instability as traders struggle to navigate between bullishness and looming risk.
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The crypto market remains highly responsive, with investors balancing President Trump's announcement of a U.S. strategic crypto sanctuary with the hype of macroeconomic uncertainty that keeps weighing emotions. The possibility of an increase in crypto adoption promotes optimism, but concerns about inflation, interest rates and regulatory pressures keep many traders in place.
Santiment's on-chain data shows that 2.23 million links have been moved to exchange in the last two weeks. This change in supply raises questions about whether large-scale holders are preparing for off-road links or simply relocating ahead of major moves.
As it remains volatility, traders are checking whether ChainLink can retain its key support levels and break into new highs in the coming weeks. The next move, both in the link and in the broader market, is important to determine the short-term direction.
ChainLink fights below important levels
ChainLink is currently below critical resistance levels, and the bull is struggling to regain lost ground. Breakouts above these important levels can cause gatherings, but up until then, uncertainty remained high. The broader market sentiment is mixed, and analysts and investors are worried about the possibility of a continuous decline once the link loses support and falls below the drop in scope.
The metrics suggest that a potential distribution stage is on the horizon, raising concerns that large holders may be preparing to offload the link. Top analyst Ali Martinez shared the chain's data on X and revealed that 2.23 million links have been moved to exchange in the past two weeks. Historically, this type of activity precedes sales pressure. This is because large players usually transfer assets to exchanges for sale. As sales accelerate, the links can see deeper corrections, further slowing down bullish momentum.
However, there is still a possibility that this trend will not lead to a full-scale distribution stage. Some analysts believe that whales may be relocating or preparing for a big move, rather than selling them entirely. If the link can regain resistance beyond its main support level, it could launch a new upward trend against expectations.
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For now, ChainLink remains a pivotal moment, relying heavily on whether the Bulls can absorb sales pressure and regain control. The next few days will decide whether the link will be destroyed from its scope or further downside risk depending on on-chain movement.
Link trading below key resistance
ChainLink is currently trading below $16.6 and hovering around the 200-day moving average (MA). This level is important for the bull to signal long-term strength and recall it to favor momentum. A decisive push beyond this zone indicates that the Link is regaining traction, potentially setting it even further above the stage.
However, in the short term, the main focus remains on exceeding the $15 level. This support is a major demand zone and maintaining it in the next few days is important to prevent further downside pressure. If the Link is above $15, buyers can gain momentum and try a breakout for $17.9 for the next major resistance. This coincides with the 200-day Exponential Moving Average (EMA).
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Successful pushes above $17.9 strengthens bullish sentiment and increases the likelihood that links will regain higher price levels. However, failing to hold $15 can expose your link to updated sales pressure, delaying your potential recovery. For now, traders are looking at whether links can retain support and regain a critical moving average. This determines the next important movement in the market.
Dall-E special images, TradingView chart
