$LINK

Chainlink (LINK) is facing increased selling pressure after a major whale, wallet 0x7fBB, deposited 403,000 LINK ($5.87M) into Binance since May 27, 2025. This move has raised concerns of a potential sell-off, especially as it aligns with bearish technical indicators and Elliott Wave analysis.

🔹 Key Points:

• Whale activity: The whale had previously accumulated 1.75 million LINK at ~$7.03 average cost. Recent Binance deposits signal intent to take profit.

• Market impact: LINK trading volume jumped 20% to over $290M, and the price dropped 10% over the past 7 days, currently around $13.

• Technical outlook:

• LINK remains below key resistance at $14.74.

• MACD and BBP indicators show bearish momentum increasing.

• Elliott Wave analysis indicates LINK is in a corrective phase, potentially leading to further downside.

🔸 Levels to watch:

• Support: $13.50

• Resistance: $15.20

• Outlook: Bearish unless LINK breaks above $14.74 with strength. Sellers are currently dominating the market.