LINK Price at Risk of Dropping to $14.75, Despite Whale Buying
Despite the significant price decline in recent days, Link, the local token of the link, remains in sight for investors and whales. Today, February 18, 2025, famous Encryption expert In the recent decline, crypto whale posted on X (formerly Twitter) has purchased over 1.1 million link tokens in the past 24 hours.
Link to current price dynamics
In addition to substantive Link to purchasethe token price fell by more than 10% during the same period, and the current trading price is close to $17.50. Meanwhile, the volume of assets increased by 20%, indicating an increase in traders and investors’ participation.
Link technical analysis and upcoming levels
As prices fall, link tokens are expected to fall further as it has confirmed the bearish outlook. In early February 2025, Link was below $20 at its critical support level and has been consolidating within a tight range below that level since then.
However, with prices falling today, the assets violated their merger zone, opening the way for further shortcomings. Additionally, the link fell below 200 exponential moving averages (EMA) over the daily time frame, confirming that the asset is now on a downward trend.
According to expert analysis, if Link closes daily candles below $17.45, then in the near future, assets are likely to fall 15% to reach the $14.75 level.
Short seller control
According to Link Analytics, as such bearish price action has been confirmed, traders’ bets have increased open positions, betting that prices will not be called up anytime soon. Small shop.
At press time, traders holding long positions had a leverage of up to $17.33, with a long position worth nearly $1 million. $18.56, on the other hand, is another key level where traders holding short positions over-leverage, accumulating nearly $10 million in short positions.
It seems that short sellers think Link’s price will not exceed $18.56.
When these chain boundary indicators are combined with technical analysis, this suggests that the bear is under control and that prices may soon fall sharply.
