The price of LINK maintains its balance near the 12.5 level amidst a cautious atmosphere prevailing in the digital asset market as a whole. The recent wave of fear has limited risk appetite, which has reflected on the slowdown in the movement of alternative currencies and LINK entering a phase of relative calm without sharp fluctuations ⏸️.
📊 Network indicators: Stability without confirming the direction
The total guaranteed value on the Chainlink network is approximately 46.03 billion with a monthly growth of about 2.43%, reflecting the continued use of the network and its operational strength, despite the absence of a clear signal of a change in price direction.
💹 Price movement and technical momentum
LINK traded around the range of 12.5 with selling pressure temporarily easing, as buyers defended this level and prevented a rapid decline.
The currency had previously exited a descending wedge pattern on the daily frame, which shifted the market from a bearish trend to a consolidation state 🔄, but the buying strength after this breakout remained limited.
📉 Short-term technical signals
Momentum indicators showed temporary weakness
Bearish crossover in MACD
Negative divergence in RSI
All of this suggests relative exhaustion among buyers and the price's inability to launch at the moment ⚠️
🐳 Large wallet movements
The market witnessed notable withdrawals of a large amount of LINK during a sideways price fluctuation near support. These moves increased one wallet's balance to over 445,000 LINK, reflecting a quiet accumulation activity away from the noise 📦.
📤 Decrease in supply on trading platforms
A decrease in the available supply for trading is often associated with accumulation phases rather than distribution. Historically, such outflows have coincided with periods of calm that preceded strong expansion waves in previous cycles ⏳📈.
🧱 Support and resistance areas
🔹 Critical support: between 12 – 12.5
Maintaining it is essential for continued consolidation
🔻 Breaking this range could push the price towards a lower demand area between 9 – 10
🔺 Notable resistance: near 27
A stable breakout could open the way for higher levels
✨ Summary
Currently, LINK's price prefers consolidation and gathering momentum rather than a rapid launch. The market is watching, and investors are on alert, waiting for a clearer signal to determine the next direction 🔍📊.
