Chainlink (LINK) is consolidating around $9.09, down 2.5% over the past 24 hours, within a key multi-year support zone of $8-$10. Despite the price stagnation, on-chain data shows that whales are accumulating heavily, with the number of wallets holding at least 1,000 LINK reaching the highest point since 2026 at 25,420. Meanwhile, exchange reserves have decreased from 170 million LINK to 127 million LINK, indicating that selling pressure has eased. However, weak network activity and bearish momentum indicators suggest that a price breakout above $10 will require a stronger demand catalyst.

LINK-4.12%

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