Recently, LINK has shown obvious signs of strength on the four-hour chart, but a breakthrough of the key resistance still requires observation. Should we chase the rally or wait for a correction? It depends on understanding the behind-the-scenes capital movements and technical signals to make a judgment.

The story on the capital side is quite interesting. Over the past two days, a newly created wallet has continuously withdrawn 470,000 LINK from a major exchange, equivalent to nearly 5.8 million USD. This scale has already far exceeded retail operation levels. With the new address and intensive large withdrawals, is it that institutions are quietly lurking, or are big players rebalancing their positions? The more critical question is—why did they choose to aggressively accumulate at this price point? The signals revealed by this move cannot be ignored.

On the technical side, the MACD's white and yellow lines have crossed above zero, forming a typical "golden cross on the water," indicating that short-term upward momentum is building. The trading volume is also beginning to gently increase, though not to an extreme level, but at least it’s not sluggish. Currently, the price is testing around 12.5, with the first resistance at 13, and stronger resistance at 13.7. Looking downward, 12 is the lifeline of this cycle; if it breaks below, attention should be on the 11.5 level.

From a trading perspective, the 13 to 13.5 range can be tested with light short positions, but avoid heavy bets. Conversely, if the price retraces to between 12 and 12.2 and holds, it can be gradually built into a long position. The most important mindset is—never bet on a direction in a choppy market; phased positioning is the way to survive longer.

My judgment is this: in the short term, it’s likely to push up to around 13 to test resistance, possibly reaching 13.3 to 13.5, but breaking through the strong resistance at 13.7 will be challenging. That mysterious big player is aggressively accumulating here, indicating confidence in the future market, but they may not push the price immediately higher; they might continue to buy low during the consolidation. If it rises and then pulls back but can hold above 12, there’s still a chance for further upside; but if volume increases and it breaks below 12, a deeper correction could be imminent, with a minimum target of 11.5.