Chainlink (LINK), while testing a critical resistance zone, investor interest increases and indicates the rise potential of the on-a-sein data. But can LINK start a new bull trend by overcoming these levels? Here are the details…

Link price faces critical resistance

LINK encountered intense accumulation in the resistance zone between 14.50 – $ 15.30. According to the latest data, 37,000 investors purchased a total of 153 million links. This strong accumulation shows that investor confidence has increased and the price is prepared for an upward movement.

However, considering market dynamics, it stands out as a critical question whether LINK really can break this resistance.

In which direction does LINK price movements point?

Chainlink has recently entered the consolidation process by fluctuating in the range of $ 12.45 – 17.78. LINK traded at $ 14.32 during the spelling, recorded an increase of 1.54 %in the last 24 hours.

LINK, which currently tested the critical $ 14.33 dollar support level, can be $ 17.78 if it manages to exceed $ 15.30. For this reason, investors carefully monitor how the price will move at these levels.

If the Link rises above $ 15.30, the upward momentum may be strengthened and a new bull rally may begin. Otherwise, the possibility of retreating the price should not be ignored.

What does On-Chain Data Say?

LINK’s address statistics on the chain give mixed signals:

• The number of new addresses decreased by 30.49 %in the last 7 days, so new investor entrances to the market has slowed down.

• Active addresses decreased by 22.99 %, which reveals that existing investors show less interest in the market.

• Zero balance addresses fell 5.84 %, so most of the investors continue to keep their LINKs without selling.

The decline in new and active addresses shows that the market has a more cautious attitude. Investors protect their positions while waiting for price movements to become clear.

LINK reserves on the stock markets are involved

According to the current data, the LINK reserve on the stock exchanges is at the level of 159,036 million token and a slight decrease of 0.18 %in the last 24 hours.

This decrease in the amount of token withdraws from the stock exchanges shows that investors adopt a long -term retention strategy. Less sales pressure increases the likelihood of the price to move upward.

If this trend persists and the demand increases, it is possible that LINK will achieve a stronger rise acceleration.

Chainlink is in a critical turn. Although 37,000 investors accumulate 153 million Chainlinks, the decline in address activity is an unstable atmosphere in the market, although it shows that the confidence in the asset is high.

If Chainlink manages to exceed $ 15.30, the price may be possible to rise to $ 17.78. However, if it falls below $ 14.33, downward risks may be activated.

For this reason, investors should closely follow whether LINK can break the resistance levels.