Chainlink Price Hits 16-Month High as Whale Activity and Network Demand Increase

Chainlink (LINK) price hit a 16-month high of $11.50 this week as transactions and whale activity increased.

On-chain data shows rising network usage and demand, with transaction counts at 9-month highs.

Whale transactions spiked to highest levels since November 2022 selloff.

Initial resistance at $14 where many addresses bought in the past. Decisive breakout could spark rally to $20.

Support at $8 if bears attempt to reverse uptrend. Below that, next key level is around $6.