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LINK Chainlink (LINK)'s recent performance and market dynamics
Chainlink (LINK) recorded a 35% increase in the past month, regaining market attention. Although its current price is still 78% lower than the all-time high of $52.70 set in May 2021, recent price movements show that LINK fell slightly by 1.36% in 24 hours to close at approximately $11.57, with the intra-day trading range remaining between $11.46 and $11.80. Currently, the coin has a market value of US$8.65 billion, and its 24-hour trading volume reaches US$307.47 million.
Major holders increased significantly during the price correction
There was significant activity among large investor groups as LINK fell back from $13.68 to $11.29 (a drop of 17%). Market analyst Ali Charts pointed out that well-known holders took advantage of the pullback and purchased approximately 10.36 million LINK tokens worth approximately US$120 million in 96 hours. This move shows that major players are confident in future price increases and they tend to build positions in significant corrections.
Such large-scale accumulations usually occur when institutions and ultra-high-net-worth investors expect a possible recovery in prices. These purchases provided stronger support for the tokens and consolidated the position of the US$11.46 area as a key technical support level. The main LINK wallet acted after a drastic correction and accumulated more than $120 million in tokens in four days. This pattern usually occurs when large-scale investors plan ahead of a potential uptrend.
Analyst Moe also mentioned that the LINK/BTC trading pair is continuing to consolidate in a downward pattern and identifying a demand area that could signal a reversal if further price behavior is confirmed. However, the trading pair has not yet shown a clear breakthrough signal.
ETF inflows highlight institutional interest renewed
In early September, demand for Chainlink-focused exchange-traded fund (ETF) products surged. Bitwise's CLNK and Grayscale's GLNK reported net inflows of $1.09 million and $4.27 million respectively on September 9 and 10, respectively. Although the two funds remained neutral in capital flow activity on September 11, their cumulative total inflows reached $151.76 million.
Currently, the total assets managed by these ETFs reach US$181.83 million, accounting for approximately 2.10% of Chainlink's total market value. Among them, Grayscale's GLNK remains the leading product, managing US$135.88 million in assets, while Bitwise's CLNK manages US$45.95 million in assets.
Innovations surrounding real-world asset (RWA) tokenization are reshaping institutional investment strategies. Institutional investors no longer rely solely on traditional brokers, but are increasingly turning to Web3 platforms. For example, platforms such as 1stepSwap allow investors to hold shares of top U.S. companies, gold and silver directly in their crypto wallets. By tokenizing these RWAs and automatically aggregating prices, these platforms eliminate the need for traditional intermediaries and simplify the access process for retail and institutional participants.
Technical prospects and key resistance levels
From a technical perspective, key support is established at $11.46, immediate resistance is concentrated between $11.57 and $11.60, and the additional resistance ceiling above is around $11.80. The Smoothing Similarity Moving Average (MACD) histogram currently shows weakening bearish momentum, with a slightly positive reading of 0.011.
At the same time, the Relative Strength Index (RSI) was at 38.65, putting LINK above the oversold zone, but has not yet reached a level that shows strong bullish pressure. If the four-hour K-line closes decisively above $12, it will provide preliminary confirmation of a possible rebound towards $13.30. Once this threshold is exceeded, the next resistance level will be set at $14, followed by $15, which represents an increase of about 29% based on current prices.
Given that immediate resistance is slightly above the current price, successfully stabilizing above $12 may push prices towards the previous band high of $13.30, and then testing $14 and $15, as technical momentum improves. The Chaikin Flow of Funds (CMF) indicator is-0.39, reflecting that current selling pressure is greater than cumulative strength. LINK must recover both levels of $11.55 and $11.60 to trigger continued bullish momentum and reverse the short-term trend.
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