Chainlink, which produces important data in the cryptocurrency market, has come to the fore in recent days. On-chain data indicated that a large amount of LINK was withdrawn from exchanges. It was noted that a particularly large amount of tokens were moved out of the exchange on April 28. However, these movements did not lead to a meaningful break in the price. Chainlink’s trading range remained between $9.20 and $9.23 in 24 hours, showing a decline of 0.93 percent.
Highest LINK Outflow from Stock Exchanges
According to Santiment data, net outflow on Chainlink exchanges has reached a record level in recent days. A total of 970 thousand 430 LINK, that is, approximately 8.95 million dollars, were withdrawn from the exchanges in one day. Experts evaluated this situation as investors transferred their LINK to their own wallets or did not intend to sell. But there was no sudden price movement.
“According to Santiment data, the net outflow on Chainlink exchanges has reached a record level in recent days. A total of 970 thousand 430 LINK, that is, approximately 8.95 million dollars, was withdrawn from the exchanges in one day.”
Following these developments, the price moved in a narrow band. While buyers continued to keep the price above $9.17, the above $9.35 threshold was not breached during the day. A market situation has emerged in which seller pressure continues.
Chainlink’s Price and Market Data
According to market data, Chainlink lost 0.93 percent in value in the last 24 hours and dropped to $ 9.23. The lowest level was $9.17 and the highest was $9.35. Total market value increased to $6.71 billion. The 24-hour transaction volume was measured at 202.77 million dollars. The amount of LINK in circulation was announced as 727.1 million. CryptoAppsy According to data, LINK price is traded at $ 9.23.
Far from its peak, LINK continues to trade some 82 percent below its all-time record of $52.70 set in May 2021. The price has not yet started a new upward movement.
In the daily price movement, buyers did not allow below the $9.17 band; However, it is noticeable that they failed to push the price above the session high of approximately $9.35.
Technical Data and Momentum Assessment
On the technical analysis front, movements in the LINK/USD parity continued to be limited. The trading price on the Coinbase exchange dropped to $9.18-$9.22 after fluctuating in the $9.30-9.32 range for a long time. On an hourly basis, the price change was quite small.
According to the TradingView chart, there was a slight revival in momentum indicators towards the end of the day. While the MACD line rose to 0.005, the histogram moved into the positive area around 0.002. This indicated that the short-term momentum, which weakened during the day, could increase again.
Despite this, overall market pressure continues. In order for Chainlink to start a new rise, it must first exceed the $9.24–9.28 range and then the daily peak of $9.35. On the downside, the $9.17 level stands out as strong support.
At this stage, both on-chain indicators and the price chart show that LINK is in the accumulation period and there is no clear signal for a strong rise yet.
