Chainlink Tests $21 Support; Bullish Momentum Backed by Whale Accumulation
I see Chainlink testing the $21 area after breaking a three-year pattern, trading near $21.48 down about 3.2%. That pullback looks like a normal retest rather than a trend reversal.
Whale accumulation and a growing Chainlink Reserve (now ~109K tokens) support continued bullish momentum despite the short-term weakness. The technical breakout still appears intact if $21 holds.
I’m watching for price to stabilize above $21 and would consider adding on dips while keeping risk controls tight.
Analysis
Short-term weakness is testing support but on-chain whale accumulation and a technical breakout suggest the overall bias remains bullish; failure to hold $21 would warn of deeper pullback.
Recommendation
Buy on weakness: consider adding on dips toward the $21 area if support holds, and use tight risk management (stop-loss below confirmed support) until bullish structure is reconfirmed.
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.