A large -scale whale sales flooded the market with more than 4 million links, causing the price to $ 19.
Crypto analyst Ali Martinez shared his observation One x postPointing that large holders controlled between 1 million and 10 million channels (links) reduced their holdings with more than 4 million links from February 2, 2025 to 4 million.
The decline in whale holdings seems to have been pressurized at the bottom at the price of the link, which has fallen more than $ 21 to more than $ 19. In the end of January, a uniform whale cell-offs were off, leading to a price drop from approximately $ 26 to $ 22.
Since no major negative news has been revealed about Chanlink, it is likely to be due to the baked-off benefits, as the link has recently been traded above $ 25, according to it according to it CoingkoIn addition, a wider crypto market spirit may have played a role due to the recent implementation of Tariff by US President Donald Trump. These tariffs affecting imports from Mexico, Canada and China increased market volatility and motivated many people to reduce the situation in risk -like wealth.
On the technical front, crypto traders Nebrasangooner told his 375K followers on X This link is currently in a consolidated phase. He warned that a breakdown below the major support could potentially push the link as a lower as $ 12.00. However, a breakout above resistance can determine the platform for new local high and a possible uptrend. He said, “rather we will wait for a consolidation break, which will be lost in the chops inside.”
