The post Chainlink Witnesses Increased Whale Activity, LINK Price Rally On Charts appeared first on Coinpedia Fintech News

Chainlink (LINK), the 21st cryptocurrency by market cap, was trading positively but has recently begun struggling for a bull run again.

Since the early hours of the day, the currency has seen a notable bearish trend. At the time of writing, Chainlink is selling at $7.70 after a drop of 2.42% over the last 24hrs.

The currency plunged below the crucial level of $7.89, which is not a good sign for the currency. Chainlink’s support lies near $7.65, and the resistance is positioned at $8.36.

Could things look up for the asset any time soon?

Increased Whale Activity 

A highly reputed analytic firm, Santiment, claims that Chainlink, an Ethereum (ETH) based altcoin, is experiencing increased whale activity.

As per Santiment data, there was an increase in daily whale transactions since the start of the week on the Chainlink (LINK) network, which has not been seen since mid-June.

The firm claims that this whale activity surge indicates a bull rally.