Chainlink Tests $21 Support — Buy on Weakness as Whales Accumulate
I see Chainlink's dip to around $21 as a healthy retest after breaking a multi-year pattern. Despite the 3.24% pullback to $21.48, on-chain signals show meaningful whale accumulation and the Chainlink Reserve rising to 109K tokens, which supports a bullish framework.
I view the current move as a buy-on-weakness setup: momentum remains intact but the market is probing support. I'll watch reserve flows and whale holdings for confirmation before adding materially, using the retest as an entry window if support holds.
Analysis
Recommendation
Prefer a buy-on-weakness approach: scale in on confirmed holds of the $21 support, monitor on-chain whale flows and reserve increases, and manage risk if support breaks.
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.