Summary
TLDR: Chainlink price has been trending upward but whales have been signaling an impending correction. Whale addresses holding large amounts of LINK have been selling, indicating a potential downtrend. The MACD indicator shows bearish signals and a decline to $20.12 is likely. However, support from retail investors could prevent a significant decline.
Key Points
1. Chainlink price has been trending upward for the past few weeks, with momentum seemingly slowing down over the last 48 hours.
2. Whale investors holding between 10,000 and 100,000 LINK have been consistently selling since the beginning of February, signaling a potential downtrend.
3. The MACD indicator shows a bearish crossover with red candles on the histogram, suggesting a short-term decline in LINK price to around $20.12.