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LINK Chainlink's reserves increased by 511,000 LINK tokens, bringing its total positions to 5.86 million
According to Onchain Lens data, Chainlink's strategic reserves have increased their holdings of 511,000 LINK tokens worth approximately US$5.52 million in the past 30 days. The latest increase in holdings this time is 91,100 LINK units, worth approximately US$1.06 million. At present, the total positions in Chainlink's strategic reserves have reached 5.86 million LINK, with a total market value of approximately US$67.24 million. At the same time, analyst Michael van de Poppe is closely monitoring further developments in LINK prices.
Strategic reserves continue to accumulate
Onchain Lens reported that Chainlink's strategic reserves recently purchased another 91,100 LINKS, raising its total position to 5.86 million. Over the past 30 days, the reserve has absorbed a cumulative total of 511,000 LINKS worth approximately US$5.52 million. The value of this new position is approximately US$1.06 million. As of now, the total valuation of LINK held by the entire reserve is approximately US$67.24 million.
Prices fall back from September highs
LINK rose from about US$12 to a high of US$13.50 -13.60 on September 7. Prices then formed lower highs and lower lows at key positions such as $13,$12.50 and $12. There was a brief rebound on September 11, pushing prices above $12, but immediately encountered selling pressure rejection. 
Source: TradingView
Since then, the price has stabilized around $11.50, which has become the current direct support level. LINK is currently trading at US$11.531, and the latest K-line opening price is US$11.516, hitting a high of US$11.531 and a low of US$11.500. The transaction volume was approximately 4,980 LINK, indicating that market activity in the latest K-line stage is relatively low.
Analysts focus on opportunities below $10.50
Michael van de Poppe identified two key areas for LINK, including levels below $10.50. He said he would consider buying on dips if there was a lower sweep of Bitcoin. He also expressed interest in any downward push, while noting that LINK has previously shown strong upward momentum.
His comments came as LINK was trading close to $11.50. Currently, the RSI indicator stands at 46.99 and its moving average is 46.34. After recovering from weaker levels around September 10, the RSI remains below 50. The MACD indicator remains negative, with the signal line at-0.032, the MACD line at-0.036, and the histogram value close to-0.004. According to the technical form provided, support is concentrated in the range of US$11.00-US$11.20, resistance is between US$11.80-US$12.00, followed by US$12.50.
