Chainlink (LINK) Price Forecast: Possible Retracement Amidst Growing Selling Interest
Chainlink (LINK) Price Forecast
The recent surge in Chainlink's price could face a setback as large holders start selling, impacting retail investors and leading to a potential retrace to $15.
Chainlink Investors Are Skeptical
The surge in Chainlink's price was aided by larger market cues and whale activities, which have now started selling off their holdings, triggering a potential price decline.
Bullish price action could be reversed if the current selling pressure persists, potentially causing a drop in Chainlink's price to $15 or lower.
- Large LINK holders increased their holdings but have recently started selling.
- Active addresses on the network have decreased, indicating decreased investor participation.
- The surge in price may not be sustainable given the current selling pressure.
If retail investors resume active participation, there could be a positive impact on Chainlink's price.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.