š¹Chainlink (LINK) peaked at $8.46 on July 20.
š¹Price declined, reaching $7.20 on Aug 4 (-15%).
š¹Long-term holders panic, selling off their positions.
š¹On-chain data shows intense selling pressure from long-term holders.
š¹Chainlink whales also reduce trading activity significantly.
š¹Potential bearish reversal if price drops below $6.50 support level.
š¹Bullish rebound possible if long-investors stop selling and break resistance at $8.