$223 Million of LINK Purchased by Sharks and Whales Since May

• LINK sharks and whales have purchased $223 million worth of LINK since May.
• The price of LINK has risen 2.26% over the last 24 hours.
• An 18+% gain may be on the cards for LINK’s price.

Data released from the market intelligence platform, Santiment, shows that Chainlink wallets holding between 10,000 and 1,000,000 LINK have purchased more than $223 million worth of the token since the middle of May this year.

CoinMarketCap shows that the price of LINK has risen 2.26% over the last 24 hours, taking its price to its current standing at $6.95 at press time. LINK has also strengthened against Bitcoin (BTC) and Ethereum (ETH) by 1.89% and 1.20% respectively.

With a market cap of $3,415,372,972, LINK is ranked as the 21st biggest project by market cap. This ranks it underneath Litecoin (LTC) with its market cap of $3,726,346,843, and above Cosmos (ATOM) with its market cap of $3,340,270,250.

The price of LINK was able to break above the 9 Exponential Moving Average (EMA) line, but was then met with some resistance as can be seen by the wick above today’s daily candle. A successful break above this level will see LINK target the resistance at around $7.50.

Should LINK’s price breach the resistance at $7.50, the next target will be $8.25. At the current price of LINK, the price reaching this level would mean an 18.70% gain for investors.

The daily Relative Strength Index (RSI) indicator suggests that LINK will break above the 9 EMA level as it has crossed bullishly above the daily RSI SMA line recently. Furthermore, the daily RSI line is sloped positively towards overbought territory, which could be foreshadowing a move upwards.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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