Crypto analyst Ali Martinez noted that whale accumulation and network growth continue to strengthen in Chainlink (LINK). According to data shared by Martinez, large investors have purchased over 2.5 million LINK in the last 10 days. This accumulation, according to the analyst, indicates continued buying interest in LINK from large investors.
Martinez noted that growth on the Chainlink network also supports demand, with the number of new LINK addresses created daily reaching approximately 1,500. According to the analyst, the steady expansion of the user base is a significant indicator of adoption and has been a key factor supporting strong price rallies in the past.
Martinez stated that if current demand continues, the first significant resistance zone for LINK is around $16. According to on-chain data, approximately 16.9 million LINK were previously purchased in this region. If this level is surpassed, $17.70 could emerge as a stronger resistance. Approximately 22.7 million LINK were previously accumulated in this price range.
*This is not investment advice.
