LINK price action has changed dramatically! This rally is completely different from the past 🔥

Chainlink（#LINK ）recent price action has broken past patterns—there’s been a clear change in the correlation between price and exchange chip supply. Previously, LINK kept trading back and forth in the $7–10 range. This time it directly broke out of the range, then surged to above $15. After reaching the high, it pulled back somewhat and is currently consolidating around $13.89.

Key highlight: a big jump, but exchange-held chips haven’t fled ✨

Here’s the most interesting part of this market move! In previous rallies, when tokens surged, many holders’ chips would flow to exchanges, always ready to sell. But this time LINK is different— the amount of LINK on exchanges has stayed steady at around 124 million to 130 million coins, with no sign of a large influx. CryptoQuant data shows exchange reserves are roughly 124.3 million LINK, at multi-year lows. Compared with the 190 million peak at the beginning of 2024, that’s a significant drop.

In short: the price has been pushed up, but big players haven’t dumped heavily to distribute into the move. Selling pressure in the market is relatively limited, and the underlying tape/position structure is fairly solid—leaving room for upside continuation.

Key to watch: $13.58 is the lifeline.

Next, can LINK hold the upward trend? It depends on the key support levels. LINK previously reached a high of $15.60, but it failed to hold the $14.15–$14.60 range. The price pulled back; fortunately, buyers stepped in promptly around $13.58, pulling the price back to around $14 and keeping the pullback under control.

$13.58 is the watershed. If this line holds, there’s still a chance for this leg of the uptrend, and the bulls can challenge the upper range again. Once it breaks, the market will weaken further, with support to watch at the $12.80–$13 area—bullish pressure will increase noticeably.

Next stop: target the $14.40 liquidity zone 📊

Now LINK is rebounding from the $13.75–$13.80 demand zone. If it holds around $14, the area ahead at $14.25–$14.40 is a densely concentrated liquidity zone.

If the bulls maintain their momentum and push into this range, it’s easy to trigger short positions covering, which can further drive the price higher—aiming for a push toward the prior high of $15.60. In the near term, $13.80 is an important line in the sand. As long as the price stays above this level, the upward channel can remain intact. If the bulls fail to gain traction and the price falls back to $13.50–$13.60, there will be another batch of short-term liquidity there, which will attract a buy-side battle.

Summary

LINK exchange inventory has remained at multi-year lows, with no strong sell pressure. In the short term, the core support is $13.80, with stronger support at $13.58. The first upside target is around $14.40. Whether it can break through will depend on how market funds relay and support the move.#SEC因拨款中断暂停加密ETF审查