Whale bets US$2,27M on Chainlink as LINK price targets new high.

• Chainlink registers a $2,27M bet on leveraged LINK.
• LINK price breaks trend and targets resistance at US$9,60
• Binance traders increase long positions in Chainlink.

A new digital wallet has attracted attention in the cryptocurrency market after opening a large long position in Chainlink's LINK token. The transaction involves approximately 251.798 LINK, valued at around US$2,27 million, using 10x leverage.

The move quickly gained prominence among derivatives traders. A relevant detail of the position is the liquidation level set near US$6,5547, suggesting that the investor is betting that the price of LINK will remain above this zone in the short term.

Transactions of this magnitude rarely go unnoticed. For many market participants, the strategy may indicate a belief that the Chainlink token is preparing for a broader directional move.

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In addition to the position size, the timing of the trade is also noteworthy. This is because the Chainlink chart has just shown a significant technical shift after breaking out of a descending channel that had been putting pressure on the price for several months.

This breakout indicates a possible shift in market structure after a prolonged period of consolidation. Currently, the price of LINK is fluctuating near the $9 region, while investors are closely watching the resistance located around $9,60.

If buyers manage to break through this range, analysts suggest the asset could target higher levels. Technical projections include zones near US$12,00 and subsequently US$14,65.

Another positive sign emerges from the formation of higher lows on the chart, especially in the region of US$ 8,45. This type of structure usually indicates that support areas are beginning to consolidate.

Technical indicators also show gradual changes in market behavior. The Directional Movement Index (DMI) indicates a growing advantage for buyers, with the +DI around 24,3, while the –DI appears close to 19,3.

The ADX indicator is hovering around 21,5, suggesting that a directional trend may be starting to develop.

Another element observed by analysts is the Parabolic SAR, whose points have recently moved below the price. This pattern usually appears in the initial phases of trend reversal or recovery.

In the derivatives market, the data also reinforces the optimistic bias. Information shows that approximately 71,2% of the top Binance accounts hold long positions in LINK, while 28,8% remain short.

This setup generates a Long/Short ratio close to 2,47, indicating a significant preference for long exposure among more active traders.

At the same time, recent liquidations show increasing pressure on short sellers. Approximately US$30,39 in short positions were liquidated, while liquidations of long positions totaled approximately US$9,48.

When short positions are liquidated, traders need to repurchase the asset to close their trades. This process tends to increase buying pressure in the market.

Combining the large leveraged position of $2,27 million, the technical breakout, and the increase in long positions among traders, the Chainlink token continues to be closely watched as it attempts to consolidate support above the $9,00 region and advance towards the $9,60 resistance.