Whale wallets now hold 85M LINK, their highest level of accumulation since late 2022, signaling strong confidence.
Chainlink partners with Mastercard and xStocks Alliance, reinforcing its infrastructure role in DeFi and tokenized assets.
LINK price remains in a consolidation phase, with $14.11 as key resistance and $13.08 as short-term support.
Chainlink's largest investors have continued increasing their holdings even as overall market activity remains subdued. Wallets holding between 100,000 and 1 million LINK have now accumulated over 85 million tokens. This marks the highest concentration of holdings by large addresses since late 2022, indicating continued confidence from major holders.
Despite this sustained whale accumulation, retail investors have largely remained on the sidelines. The smaller wallets have not recorded any significant increase, leading to the standoff between the retail and institutional holders, as analysts call it. The price of LINK has been trading within a fine range over the past few weeks, as the magnanimous position is one of precariousness in the overall market. The cautious sentiment in the broader market.
Tight Price Range Signals Potential Movement
Chainlink is currently priced at $13.48, according to data from CoinMarketCap, with a drop in the last 24 hours of 2.4% and a 7% decrease in the last month. During the past week, LINK has been in a tight range of between $12.76 and $13.96. On technical indicators, the asset is supposed to be in a consolidating stage. Bollinger Bands are narrowing, and this may help in predicting that there will be an increase in the price volatility.
At the moment, LINK is selling a little short of the Bollinger Bands midline. The resistance is the $14.11 mark, and the support is at $13.08 as the midline. The relative strength index stands at 50, which indicates a neutral momentum, and the MACD oscillator turned a bit bullish. The token has shown resistance against its 10-day and 20-day moving averages but has not hit the prices offered by its long-term trends, which are the 100-day and 200-day trends.
Strategic Partnerships Boost Long-Term Outlook
Recent announcements may strengthen Chainlink’s infrastructure relevance in decentralized finance. On June 24, Chainlink partnered with Mastercard to support crypto purchases for more than 3 billion cardholders. Additionally, on June 30, Chainlink was named the official oracle provider for the xStocks Alliance, a DeFi initiative focused on tokenized stocks and ETFs.
LINK may test the $15 level if it breaks past the $14.10 resistance with strong volume. Conversely, a drop below $13.00 could push it toward $12.50. The market is closely observing whether retail participation will rise or if large holders will continue to influence the next significant move.
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