Crypto analyst Ali Martinez noted that whale accumulation and network growth continue to strengthen in Chainlink ($LINK). According to data shared by Martinez, large investors have purchased over 2.5 million $LINK in the last 10 days. This accumulation, according to the analyst, indicates continued buying interest in $LINK from large investors.
Martinez noted that growth on the Chainlink network also supports demand, with the number of new $LINK addresses created daily reaching approximately 1,500. According to the analyst, the steady expansion of the user base is a significant indicator of adoption and has been a key factor supporting strong price rallies in the past.
Martinez stated that if current demand continues, the first significant resistance zone for $LINK is around $16. According to on-chain data, approximately 16.9 million $LINK were previously purchased in this region. If this level is surpassed, $17.70 could emerge as a stronger resistance. Approximately 22.7 million $LINK were previously accumulated in this price range.
*This is not investment advice.