Chainlink Tests $21 Support — Whales Accumulate; Dip Looks Buyable
I see Chainlink testing the $21 support after breaking a three‑year pattern. The price is down to $21.48 (-3.24%) but the technical breakout and bullish momentum are still present.
On‑chain data backs the bullish case: whales are accumulating and the Chainlink Reserve has grown to about 109,000 LINK, showing demand under the price.
I view this pullback as a potential buying opportunity if $21 holds, while remaining cautious if support gives way.
Analysis
Recommendation
Buy on weakness: consider accumulating on dips toward $21 while monitoring on‑chain flows and volume. Protect capital with a stop below your risk threshold if $21 fails to hold and trim into strength.
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.