buy on weakness

Chainlink Tests $21 Support as Whales Accumulate — Buy on Weakness

I'm watching Chainlink as it retests the $21 area after breaking a three-year pattern. Price is down ~3.2% to $21.48, but on-chain data shows whales accumulating and the Chainlink Reserve rising to 109K tokens.

I believe bullish momentum remains intact given the breakout and growing reserve, though the $21 support test is a key inflection point. If that level holds, continuation higher is likely; if it fails, downside risk increases.

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Analysis

Price softness masks continued on-chain accumulation: whales increasing holdings and a 109K token reserve suggest demand beneath the surface. The breakout from the multi-year pattern is bullish, but t...

Recommendation

Buy on weakness: consider scaling in around the $21 support with a clear stop below the level and size positions to risk tolerance. Monitor reserve growth and volume for confirmation of renewed upside...

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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