The post Chainlink price to spike? Whales buy, exchange reserves fall appeared on BitcoinEthereumNews.com. Chainlink price has stalled in the past few days, even as its key fundamental metrics have improved. Summary Chainlink price has formed bullish patterns on the daily chart. Whales have continued to accumulate the LINK tokens. The supply of Chainlink tokens in exchanges has plunged. Chainlink (LINK) token was trading at $13.70, up modestly from the November low of $11.556. This price is well below the August high of $27.80.  Nansen data shows that whale investors have continued to accumulate the LINK token in the past few weeks. They now hold 3.9 million tokens, up from last month’s low of 1.77 million.  Whales are large investors who, in most cases, are more experienced than ordinary retail traders. In most cases, their positioning is important as they usually buy low and exit high.  Meanwhile, investors are actively moving LINK tokens out of exchanges, a sign of accumulation. There are now 219 million LINK tokens on exchanges, a significant drop from 324 million in October this year.  Chainlink tokens are leaving exchanges as American investors continue buying LINK ETFs. Data shows that the recently launched Graycale Chainlink ETF has nearly $50 million in cumulative assets after its launch.  At the same time, the Strategic LINK Reserve that was launched in August has already accumulated over 1 million tokens. The developers hope to keep accumulating these tokens using the money they generate on-chain and off-chain.  Chainlink’s technology is seeing robust demand due to its market share in real-world asset tokenization and decentralized finance.  Chainlink price technical analysis Chainlink price chart | Source: crypto.news The daily chart points to a potential LINK price comeback in the coming days or weeks. It formed a small double-bottom pattern at $11.88 and a neckline at $13.65. It has now retested this level, and formed a small bullish… The post Chainlink price to spike? Whales buy, exchange reserves fall appeared on BitcoinEthereumNews.com. Chainlink price has stalled in the past few days, even as its key fundamental metrics have improved. Summary Chainlink price has formed bullish patterns on the daily chart. Whales have continued to accumulate the LINK tokens. The supply of Chainlink tokens in exchanges has plunged. Chainlink (LINK) token was trading at $13.70, up modestly from the November low of $11.556. This price is well below the August high of $27.80.  Nansen data shows that whale investors have continued to accumulate the LINK token in the past few weeks. They now hold 3.9 million tokens, up from last month’s low of 1.77 million.  Whales are large investors who, in most cases, are more experienced than ordinary retail traders. In most cases, their positioning is important as they usually buy low and exit high.  Meanwhile, investors are actively moving LINK tokens out of exchanges, a sign of accumulation. There are now 219 million LINK tokens on exchanges, a significant drop from 324 million in October this year.  Chainlink tokens are leaving exchanges as American investors continue buying LINK ETFs. Data shows that the recently launched Graycale Chainlink ETF has nearly $50 million in cumulative assets after its launch.  At the same time, the Strategic LINK Reserve that was launched in August has already accumulated over 1 million tokens. The developers hope to keep accumulating these tokens using the money they generate on-chain and off-chain.  Chainlink’s technology is seeing robust demand due to its market share in real-world asset tokenization and decentralized finance.  Chainlink price technical analysis Chainlink price chart | Source: crypto.news The daily chart points to a potential LINK price comeback in the coming days or weeks. It formed a small double-bottom pattern at $11.88 and a neckline at $13.65. It has now retested this level, and formed a small bullish…