Chainlink Breaks Above $9 Resistance on Whale Accumulation
LINK has moved past the $9.04 resistance level, driven by rising large-holder activity and positive money flows.
Chainlink has broken through the $9.04 resistance after a period of consolidation dating back to June, with the token now trading around $9.45. The breakout reflects a meaningful shift in the token's technical structure following a recovery from lows near $7.
Whale activity has intensified as LINK approached and cleared the resistance level. Santiment data shows 246 whale transactions exceeding $100,000 in size—the highest count since March—while large holders controlling between 100,000 and 10 million LINK now account for 46.57% of the token's total supply, roughly 466.31 million LINK.
On-chain metrics paint a constructive picture for the move higher. The Chaikin Money Flow indicator stands at 0.18, indicating positive money inflows, while the Relative Strength Index has climbed to 71.40. However, the RSI's position above the 70 level suggests momentum has become stretched in the short term, creating the potential for consolidation or profit-taking before any sustained advance.
The next key levels to watch are $9.97 and $10, though sustaining the breakout above $9.04 remains the immediate priority for confirming that the move is durable rather than a temporary spike.
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