Cold Wallet Shows 4,900% Gains at Just $0.00714

LINK is heating up again as major holders move over $36 million of the tokens from Binance, hinting at a possible push toward $25 for the crypto.

15 large wallets, each holding from 88,000 to 263,000 LINK, have been pulling the tokens out of Binance. This signals a preference for holding rather than selling, often linked to rising confidence in the asset.

In the past month alone, more than $120 million in LINK has left exchanges. This decreased exchange supply lessens selling pressure and suggests less dumping activity from major holders.

On the charts, LINK recently broke out of a descending wedge pattern, which is a bullish sign indicating a reversal from a downtrend. The key resistance to watch now is at $15.22, where the price saw some rejection.

Breaking above $15.20 could propel LINK toward $20 or even $24. However, if sellers return at this level, it might lead to another period of consolidation before the next move.

As LINK shows signs of recovery, it will be interesting to see if it can sustain this momentum and reach new highs in the coming months.

Pi Network’s native token, Pi, is currently trading at around $0.6332, showcasing a lack of momentum as it remains confined to a narrow trading band.

After a prolonged downtrend that commenced in March and showed signs of easing in early May, the price has encountered difficulties in breaking out of the $0.62 to $0.66 range.

Despite holding above a crucial support level at $0.58 to $0.60, which could pave the way for a test of $0.61 or $0.59 if the bears exert more pressure, the coin has yet to pierce through the upper band at $0.68 to $0.70.

A significant push above $0.68 could propel the price toward the next resistance at $0.72. However, the MACD is still in the negative territory, indicating bearish momentum, and the Ultimate Oscillator shows signs of weakness.

Furthermore, trading volume has decreased by over 30%, which might hamper the coin’s recovery. Still, the Rate of Change is slightly positive, suggesting a slim chance of a near-term breakout from the current range.

If the bulls manage to propel the price above $0.68, it could ignite further buying interest, leading to a potential breakout toward the $0.72 to $0.75 zone.

However, a drop below $0.64 could trigger further selling pressure, pushing the price toward the next support at $0.61 or even $0.59 if the bears manage to sustain the downward move.

Most importantly, it is crucial to monitor the volume trends closely, as they will provide valuable insights into the strength of the current price movements.

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