$LINK is showing impressive recovery strength, fueled by a perfect synergy between on chain data and technical structure.
๐น In just one day, LINK reserves increased by 81,131 token, bringing the total holdings to over 1.05 million LINK. This strong drawdown show long term confidence and reduce floating selling pressure.
๐ธ Exchange Reserve decreased by 3.3%. With fewer token waiting to be sold on exchange, buyers face less friction to push the price above resistance.
๐น The price chart has confirmed a Double Bottom pattern at the $12 demand zone.
$13.94 is the price zone to hold.
The current uptrend is heading towards $14.93, $16.63 and further $17.62.
๐ธ Funding Rate has turned positive (+0.0071%), indicating that the Long are back and willing to pay a premium to hold their position, in line with the strong Spot buying pressure.
With a tight supply and increasing Taker Buy, LINK is converging all the elements for a sustainable breakout.
Do you think LINK will break $16 this week or should we accumulate more?
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