Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Chainlink price pulls back 5% as whale activity declines

Chainlink price pulls back 5% as whale activity declines

Grafa2024/12/19 12:40
By: Isaac Francis
LINK-0.84%

Chainlink (CRYPTO:LINK) recently experienced an 87% surge in the past 30 days, reaching its highest levels in three years.

However, the price has pulled back by approximately 5% in the last 24 hours, indicating short-term weakness.

Whale activity has also shown signs of decline, with the number of wallets holding between 100,000 and 1,000,000 LINK dropping from 558 in late November to 515 in mid-December.

This decrease suggests that large investors are either reducing their positions or taking profits, signaling potential caution or a shift in sentiment among major holders.

“Whale activity has declined, with wallets holding 100,000–1,000,000 LINK dropping from 558 in November to 515, signaling reduced confidence,” according to data from Santiment.

Tracking whale activity is crucial, as these large holders can significantly influence price movements.

The drop in whale numbers may exert selling pressure on LINK, contributing to the recent pullback.

Chainlink’s BBTrend indicator also points to weakening momentum, falling from a peak of 19.31 on December 15 to 7.46, reflecting a slowdown in bullish momentum.

The BBTrend, which measures the strength of price trends, indicates that the uptrend is losing steam, suggesting a potential period of consolidation or retracement.

“Chainlink BBTrend is declining, suggesting that while the price remains in an uptrend, momentum has slowed,” noted TradingView data.

If whale activity stabilises or reverses, it could trigger renewed accumulation and a price rebound.

However, if the trend continues, LINK may experience further consolidation or a pullback in the short term.

At the time of reporting, the price of Chainlink (LINK) was $24.71.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!
Bitget Announcement2025/09/12 07:46
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
New spot margin trading pair — LINEA/USDT!
Bitget Announcement2025/09/11 10:04

Trending news

More
1
New spot margin trading pair — HOLO/USDT!
2
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

Crypto prices

More
Bitcoin
Bitcoin
BTC
$115,929.62
+0.03%
Ethereum
Ethereum
ETH
$4,660.15
-1.24%
XRP
XRP
XRP
$3.08
-1.24%
Tether USDt
Tether USDt
USDT
$1
+0.00%
Solana
Solana
SOL
$246.34
+1.50%
BNB
BNB
BNB
$938.38
+1.32%
USDC
USDC
USDC
$0.9998
+0.00%
Dogecoin
Dogecoin
DOGE
$0.2908
+2.37%
TRON
TRON
TRX
$0.3501
-0.92%
Cardano
Cardano
ADA
$0.9146
-1.54%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter