$LINK has two of the most patient buyers in crypto — and it's still 77% below its all-time high.
Q3 numbers tell the absorption story: Chainlink's own reserve bought 1.54M LINK with service revenue last quarter, lifting it past 6M LINK. Add the two US spot LINK ETFs — 16.65M LINK, over $230M — and roughly 22.7M LINK, about 3% of the circulating float, is sitting with buyers who don't flinch at red days.
That's the bull read. The other edge: mechanical buying isn't conviction buying. Those ETF flows are real but small next to daily volume — the record day was $9.5M, a rounding error in a real dump. And the tape keeps voting against it: LINK has slid from $13.51 to under $12 in twelve days, lower highs and lower lows all the way.
Resistance sits at $12.70 — the broken trendline, now overhead. Support is $11.53, the 12-day low. A 4h close under $11.53 re-opens the flush; reclaiming $13 repairs the structure.
Patient absorption or slow bleed — which side is mispriced?
$LINK #Altcoins #Chainlink #ETF #Tokenomics
Q3 numbers tell the absorption story: Chainlink's own reserve bought 1.54M LINK with service revenue last quarter, lifting it past 6M LINK. Add the two US spot LINK ETFs — 16.65M LINK, over $230M — and roughly 22.7M LINK, about 3% of the circulating float, is sitting with buyers who don't flinch at red days.
That's the bull read. The other edge: mechanical buying isn't conviction buying. Those ETF flows are real but small next to daily volume — the record day was $9.5M, a rounding error in a real dump. And the tape keeps voting against it: LINK has slid from $13.51 to under $12 in twelve days, lower highs and lower lows all the way.
Resistance sits at $12.70 — the broken trendline, now overhead. Support is $11.53, the 12-day low. A 4h close under $11.53 re-opens the flush; reclaiming $13 repairs the structure.
Patient absorption or slow bleed — which side is mispriced?
$LINK #Altcoins #Chainlink #ETF #Tokenomics