Chainlink Tests $21 Support — Whales Accumulate; Buy on Weakness
I see Chainlink testing the $21 support after breaking a three‑year pattern. The token is trading around $21.48 (-3.24%) but whale accumulation and a rising Chainlink Reserve (now ~109K LINK) suggest the pullback may be temporary.
Technically the breakout and on‑chain accumulation point to intact bullish momentum, yet the near‑term risk is a failed support retest. I’m watching volume and whether whales keep adding or distribution begins.
My approach is to buy on weakness around the $21 area with defined stops below a confirmed breakdown, rather than chasing strength on the current bounce.
Analysis
Recommendation
Buy on weakness near the $21 support with position sizing and a stop below a clear breakdown; avoid initiating large positions if support fails or if volume indicates heavy selling.
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.