Chainlink whales buy US$3.8M in LINK

• Large holders accumulated 512,595 Chainlink (CRYPTO:LINK) tokens worth about US$3.78 million over four days as the token approached US$7.40.
• LINK rose about 3.4% to trade near US$7.39, supported by improving technical indicators and continued buying activity.
• Analysts said sustained support above the US$7.20–7.25 range could keep attention on higher resistance levels.

Four whale wallets accumulated 512,595 Chainlink (CRYPTO:LINK) tokens worth about US$3.78 million over the past four days, coinciding with a recovery that lifted the cryptocurrency close to US$7.40.

According to on-chain analytics platform Nazoku, the four wallets now hold 251,735, 120,675, 113,068 and 27,116 LINK respectively, with at least one address showing a history of regular accumulation.

Nazoku said four major wallets accumulated a combined 512,595 LINK over four days during the token's recent price recovery.

Chainlink traded near US$7.39, up about 3.4% over 24 hours after rebounding from just above US$7.13 to an intraday high near US$7.43, while the US$7.20–7.25 range has emerged as a short-term support level.

Technical indicators showed improving momentum, with a positive MACD crossover and a Relative Strength Index of 60.58, indicating stronger buying activity without entering overbought territory.

Chainlink is a decentralised oracle network that supplies external data to smart contracts across multiple blockchains and plays a key role in decentralised finance applications.

Analysts said resistance is centred around US$7.43 and US$7.50, while a move below current support could shift attention back to the US$7.10 level.

At the time of reporting, Chainlink price was $7.31.