{"id":267602,"date":"2022-11-01T02:00:23","date_gmt":"2022-10-31T20:30:23","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=267602"},"modified":"2022-10-31T15:44:52","modified_gmt":"2022-10-31T10:14:52","slug":"chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link\/","title":{"rendered":"Chainlink: Why a whale rescue mission may not be enough to save LINK"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Chainlink [LINK]<\/span><span data-preserver-spaces=\"true\">\u00a0almost hit the $8 mark as the smart contracts network rallied impressively over the weekend. According to Santiment, the increase might have been impossible if not for the intervention of its whales.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"> The on-chain analytic platform also reported that unusually active Chainlink whales made about thirty-three $1 million transactions. Santiment also stated that these transactions were the highest LINK had recorded since a similar situation on 27 June.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udd17\ud83d\udc33 <a href=\"https:\/\/twitter.com\/hashtag\/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw\">#Chainlink<\/a> whales have gotten quite active this weekend as market prices have teased the $8 level a few times. Saturday saw 33 different <a href=\"https:\/\/twitter.com\/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LINK<\/a> transactions exceeding a value of $1 million. This was the highest whale  activity day since June 27th. <a href=\"https:\/\/t.co\/0eMNpYTDW2\">https:\/\/t.co\/0eMNpYTDW2<\/a> <a href=\"https:\/\/t.co\/kaSkNdtLY6\">pic.twitter.com\/kaSkNdtLY6<\/a><\/p>\n<p>&mdash; Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1586842285932572672?ref_src=twsrc%5Etfw\">October 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Here\u2019s <\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/chainlink-price-prediction\"><span style=\"font-weight: 400;\">AMBCrypto\u2019s Price Prediction for Chainlink<\/span><\/a><span style=\"font-weight: 400;\"> for 2023-2024<\/span><\/p>\n<hr \/>\n<h3><b>Is it whale season now?<\/b><\/h3>\n<p><span data-preserver-spaces=\"true\">Interestingly, it seemed that it was whales&#8217; time to shine since\u00a0<\/span><span data-preserver-spaces=\"true\">Ethereum [ETH]<\/span><span data-preserver-spaces=\"true\">\u00a0sharks had their share of\u00a0<\/span><a class=\"editor-rtfLink\" href=\"http:\/\/ambcrypto.com\/chainlink-are-traders-holding-on-to-their-links-these-developments-could-prove\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">accumulating<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0LINK recently. Regardless of the input, LINK struggled to hang on to the $7.8 region as it\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/coinmarketcap.com\/currencies\/chainlink\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">shredded<\/span><\/a><span data-preserver-spaces=\"true\">\u00a011% of its 24-hour trading volume. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This implied that the LINK investors accumulations were now being dropped off. As expected, this led to the loss of LINK&#8217;s attempt to reclaim $8. Despite the fall, was it still possible for LINK to aim for the milestone in the short term?<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Based on indications from the Relative Strength Index (RSI), LINK might not be out of the bid to hit $8. The RSI, at 62.31, implied that there was good buying momentum. Hence, it was less likely to succumb to selling pressure, except the buyers intensified their accumulation to send the RSI above 70. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Despite the RSI state, the On-Balance-Volume (OBV) showed that the whale action might not have slowed down. This was because the OBV, being 213.91 million at press time, suggested increasing liquidity pumped into the LINK chain.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, the Exponential Moving Average (EMA) differed from the indications agreed upon by the RSI and OBV. According to the four-hour chart, the 50 EMA (yellow) was slightly above the 20 EMA (blue). This increase implied that it might become difficult for LINK to sustain the current greens it was displaying.<\/span><\/p>\n<figure id=\"attachment_267606\" aria-describedby=\"caption-attachment-267606\" style=\"width: 1354px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/LINKUSD_2022-10-31_10-16-59.png\"><img decoding=\"async\" class=\"size-full wp-image-267606\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/LINKUSD_2022-10-31_10-16-59.png\" alt=\"LINK price action\" width=\"1354\" height=\"697\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/LINKUSD_2022-10-31_10-16-59.png 1354w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/LINKUSD_2022-10-31_10-16-59-300x154.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/LINKUSD_2022-10-31_10-16-59-1024x527.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/LINKUSD_2022-10-31_10-16-59-768x395.png 768w\" sizes=\"(max-width: 1354px) 100vw, 1354px\" \/><\/a><figcaption id=\"caption-attachment-267606\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<h3><strong><span data-preserver-spaces=\"true\">Here\u2019s the state on-chain<\/span><\/strong><\/h3>\n<p><span data-preserver-spaces=\"true\">Although the possibility of LINK increasing per price was not all bleak, the top 1% of addresses were doing less to help its cause. According to\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/studio.glassnode.com\/metrics?a=LINK&amp;category=&amp;m=distribution.Balance1PctHolders&amp;s=1642287600&amp;u=1667170799&amp;zoom=\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Glassnode<\/span><\/a><span data-preserver-spaces=\"true\">, Chainlink token supply percentage had decreased to 86.26% at the time of writing. This meant that investors holding LINK-related assets had ignored topping up. For some, they had dumped off some of the assets.<\/span><\/p>\n<figure id=\"attachment_267607\" aria-describedby=\"caption-attachment-267607\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_chainlink-percent-of-supply-held-by-top-1-addresses.png\"><img decoding=\"async\" class=\"size-full wp-image-267607\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_chainlink-percent-of-supply-held-by-top-1-addresses.png\" alt=\"\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_chainlink-percent-of-supply-held-by-top-1-addresses.png 1800w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_chainlink-percent-of-supply-held-by-top-1-addresses-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_chainlink-percent-of-supply-held-by-top-1-addresses-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_chainlink-percent-of-supply-held-by-top-1-addresses-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/glassnode-studio_chainlink-percent-of-supply-held-by-top-1-addresses-1536x864.png 1536w\" sizes=\"(max-width: 1800px) 100vw, 1800px\" \/><\/a><figcaption id=\"caption-attachment-267607\" class=\"wp-caption-text\">Source: Glassnode<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Per its exchange data,\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/app.santiment.net\/charts\/izZOw3di__sCl\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Santiment<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0revealed that there had been more exchange inflow than outflow. At press time, the LINK exchange outflow was 43,200, while the inflow was 55,900. Since there was more inflow, it suggested that more investors were willing to sell off the profits from the previous week. If the trend remains the same, LINK might not escape a fall from the uptick.<\/span><\/p>\n<figure id=\"attachment_267604\" aria-describedby=\"caption-attachment-267604\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ChainLink-LINK-10.37.30-31-Oct-2022.png\"><img decoding=\"async\" class=\"size-full wp-image-267604\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ChainLink-LINK-10.37.30-31-Oct-2022.png\" alt=\"Chainlink exchange data\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ChainLink-LINK-10.37.30-31-Oct-2022.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ChainLink-LINK-10.37.30-31-Oct-2022-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ChainLink-LINK-10.37.30-31-Oct-2022-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ChainLink-LINK-10.37.30-31-Oct-2022-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ChainLink-LINK-10.37.30-31-Oct-2022-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/ChainLink-LINK-10.37.30-31-Oct-2022-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-267604\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink [LINK]\u00a0almost hit the $8 mark as the smart contracts network rallied impressively over the weekend. According to Santiment, the increase might have been impossible if not for the intervention of its whales. The on-chain analytic platform also reported that unusually active Chainlink whales made about thirty-three $1 million transactions. Santiment also stated that these<a href=\"https:\/\/ambcrypto.com\/chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link\/\">Continue reading <span class=\"sr-only\">&#8220;Chainlink: Why a whale rescue mission may not be enough to save LINK&#8221;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":267613,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-267602","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chainlink: Why a whale rescue mission may not be enough to save LINK - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Chainlink [LINK]\u00a0almost hit the $8 mark as the smart contracts network rallied impressively over the weekend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chainlink: Why a whale rescue mission may not be enough to save LINK - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Chainlink \u00a0almost hit the $8 mark as the smart contracts network rallied impressively over the weekend. According to Santiment, the increase might have\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-31T20:30:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/10\/po-2022-10-31T105411.861.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Saman Waris\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SamanWaris11\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saman Waris\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link\\\/\"},\"author\":{\"name\":\"Saman Waris\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/ad73a5a061fcfc27548aa27112d8b9d8\"},\"headline\":\"Chainlink: Why a whale rescue mission may not be enough to save LINK\",\"datePublished\":\"2022-10-31T20:30:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link\\\/\"},\"wordCount\":472,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/po-2022-10-31T105411.861.png\",\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link\\\/#respond\"]}],\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/chainlink-why-a-whale-rescue-mission-may-not-be-enough-to-save-link\\\/\",\"name\":\"Chainlink: Why a whale rescue mission may not be enough to save LINK - 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