Although we don’t expect much for the first four months, it is thought that the crypto market rally is near. This is true for ChainLink, as whales activity around assets has skyrocketed at a triple-digit rate. In fact, Link has seen a 299% rise in whale movement over the past 24 hours, with the remaining crypto market falling.
CheasLink’s large transaction volume shows whale activity, up 299% over the past 24 hours, reaching 6.71 million links, or $101.4 million, according to data from IntotheBlock. This comes as major coins like BTC and ETH go down on Friday. ChainLink has been a tough week, falling 11% over the past seven days. So the recent move could be a combination of panic selling or swooping assets at low prices. The latter can give the link a much-needed rebound over the weekend.
A combination of macroeconomic uncertainty, profit acquisition and crypto whale liquidation has led to a $703 million liquidation in the crypto market over the past 24 hours. Highly leveraged traders were hit, and Long accounted for the majority of the liquidation at $640 million. Meanwhile, the shorts are coming out for $64 million. US inflation data next Friday could cause the next crypto market move, for better or worse.
Link’s next move
ChainLink Link has recently reached $16 thanks to an increase in weekly exchange spills worth around $11.27 million. Last week, the crypto industry experienced a surge in games, where Bitcoin was able to ignite changing emotions for the industry. In fact, the asset reached a new all-time high of $111,000 before retreating to close the week. That’s the driving reason behind the Bulls who grab the momentum of the Link. However, the market correction over the past week has slowed down the momentum. Currently, ChainLink Cryptocurrency is below $15.
Traders are paying attention to the key levels of the link/USDT chart that ChainLink can move on. Link is currently facing resistance in 2025 at $20. This is the level that the seller has intervened before. Push past where you can send links to areas ranging from $25-26. Beyond is a mid-term target of $28-30, consistent with its late 2024 highs. Alternatively, the longer the link is under $15, the more likely your assets will fall further in June.
