<p>更广泛的加密市场在恐惧驱动的条件下交易，而 Chainlink 反映了这种风险规避的情绪。由于主要山寨币的波动性压缩，散户参与保持低迷，LINK 的价格走势进入了整合阶段。</p>
<p>Chainlink 的总价值保障（TVS）为 460.3 亿美元，环比增长 2.43%。该指标表明尽管价格波动较小，但链上使用保持稳定。</p>
<p>然而，它并未确认方向性转变。</p>
<p>Chainlink [LINK] 的交易价格接近 12.5 美元，卖压在各个交易时段趋于稳定。截至发稿时，买方捍卫了 12.5 美元的支撑区。这一防守阻止了价格立即下探至更低的需求水平。</p>
<h2><strong>楔形突破后动能停滞</strong></h2>
<p>Chainlink 早些时候在日线图上突破了一个下行楔形。突破将市场结构从下跌转变为整合。</p>
<p>然而，突破后的跟进买入仍然有限。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/LINKUSD_2025-12-21_09-29-36.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/LINKUSD_2025-12-21_09-29-36.png"/></p>
<p>来源：TradingView</p>
<p>动能指标突显出短期疲软。日线 MACD 出现死亡交叉，反映出看跌动能。相对强弱指数（RSI）也形成了看跌背离，显示出买方疲惫。</p>
<h2><strong>鲸鱼活动集中在 Binance</strong></h2>
<p>鲸鱼追踪显示出显著的交易所提款。</p>
<p>在 12 月 20 日，一个新创建的钱包从 Binance 提取了 199,520 LINK，价值约 249 万美元。转账发生在 LINK 在支撑位附近横盘时。</p>
<p>第二天，同一个钱包又提取了 246,259 LINK，价值 308 万美元。在这两笔交易后，该钱包持有 445,779 LINK。</p>
<h2><strong>交易所流出反映早期积累阶段</strong></h2>
<p>CryptoQuant 的交易所数据指出，交易所上的 LINK 供应量在下降。这种流出在历史上与积累阶段而非分发阶段相一致。</p>
<p>这种行为与恐慌驱动的存款激增形成对比。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/Chainlink-Exchange-Outflow-Total-All-Exchanges.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/Chainlink-Exchange-Outflow-Total-All-Exchanges.png"/></p>
<p>来源：CryptoQuant</p>
<p>在 2019 年至 2020 年期间，类似的交易所流出模式在 2021 年扩张前被观察到。在 2022 年至 2023 年期间，类似的结构再次出现，随后是 2024 年的反弹。在 2025 年，交易所流出行为与之前的两个阶段相呼应。</p>
<h2><strong>在散户谨慎的情况下，LINK 能否保持关键支撑？</strong></h2>
<p>12 至 12.5 美元区间作为关键结构支撑。多头需要保持该区域以维持整合结构。</p>
<p>失败将面临滑向 9 至 10 美元需求区的风险。</p>
<p>在上行方面，27 美元仍然是一个主要的阻力位。干净突破该水平将打开通往区间高点的大门。</p>
<p>在此之前，价格走势更倾向于整合而非扩张。</p>
<hr/>
<h2>最终思考</h2>
<ul>
<li><em>Chainlink 的价格走势反映了谨慎，但潜在流动表明的是布局而非恐慌。</em></li>
<li><em>如果支撑继续保持，整合阶段可能作为一个准备阶段，而不是破裂信号。</em></li>
</ul>
<hr/>

<p>Chainlink (LINK) 交易价格接近 $12.5，市场情绪恐慌，散户参与度低，波动性小。尽管链上使用保持稳定，但动量指标显示短期疲软。Binance 上的鲸鱼活动表明是在积累，而非恐慌。$12-$12.5 区间是关键支撑位，$27 是主要阻力位。如果支撑位保持，盘整可能会导致未来的扩张</p>

<p>The broader crypto market traded under fear-driven conditions, and Chainlink reflected that risk-off tone. Retail participation stayed muted as volatility compressed across major altcoins, slowing LINK’s price action into consolidation.</p>
<div class="lb-trans"><p>更广泛的加密市场在恐惧驱动的条件下交易，而 Chainlink 反映了这种风险规避的情绪。由于主要山寨币的波动性压缩，散户参与保持低迷，LINK 的价格走势进入了整合阶段。</p>
</div><p>Chainlink’s Total Value Secured (TVS) stood at $46.03 billion, up 2.43% month-over-month. The metric suggested steady on-chain usage despite muted price movement.</p>
<div class="lb-trans"><p>Chainlink 的总价值保障（TVS）为 460.3 亿美元，环比增长 2.43%。该指标表明尽管价格波动较小，但链上使用保持稳定。</p>
</div><p>However, it did not confirm a directional shift.</p>
<div class="lb-trans"><p>然而，它并未确认方向性转变。</p>
</div><p>Chainlink [LINK] traded near $12.5 as selling pressure stabilized across sessions. As of press time, buyers defended the $12.5 support zone. That defense prevented an immediate move into lower demand levels.</p>
<div class="lb-trans"><p>Chainlink [LINK] 的交易价格接近 12.5 美元，卖压在各个交易时段趋于稳定。截至发稿时，买方捍卫了 12.5 美元的支撑区。这一防守阻止了价格立即下探至更低的需求水平。</p>
</div><h2><strong>Momentum stalled after wedge breakout</strong></h2>
<div class="lb-trans"><h2><strong>楔形突破后动能停滞</strong></h2>
</div><p>Chainlink had earlier broken out of a falling wedge on the daily time frame. The breakout shifted the market structure from decline into consolidation.</p>
<div class="lb-trans"><p>Chainlink 早些时候在日线图上突破了一个下行楔形。突破将市场结构从下跌转变为整合。</p>
</div><p>However, follow-through buying remained limited after the move.</p>
<div class="lb-trans"><p>然而，突破后的跟进买入仍然有限。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/LINKUSD_2025-12-21_09-29-36.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/12/LINKUSD_2025-12-21_09-29-36.png"/></p>
<p>Source: TradingView</p>
<div class="lb-trans"><p>来源：TradingView</p>
</div><p>Momentum indicators highlighted short-term weakness. The daily MACD printed a death cross, reflecting bearish momentum. RSI also formed a bearish divergence, signaling buyer exhaustion.</p>
<div class="lb-trans"><p>动能指标突显出短期疲软。日线 MACD 出现死亡交叉，反映出看跌动能。相对强弱指数（RSI）也形成了看跌背离，显示出买方疲惫。</p>
</div><h2><strong>Whale activity concentrated on Binance</strong></h2>
<div class="lb-trans"><h2><strong>鲸鱼活动集中在 Binance</strong></h2>
</div><p>Whale tracking showed notable exchange withdrawals.</p>
<div class="lb-trans"><p>鲸鱼追踪显示出显著的交易所提款。</p>
</div><p>On the 20th of December, a newly created wallet withdrew 199,520 LINK from Binance, worth about $2.49 million. The transfer occurred while LINK moved sideways near support.</p>
<div class="lb-trans"><p>在 12 月 20 日，一个新创建的钱包从 Binance 提取了 199,520 LINK，价值约 249 万美元。转账发生在 LINK 在支撑位附近横盘时。</p>
</div><p>The next day, the same wallet withdrew another 246,259 LINK, valued at $3.08 million. After both transactions, the wallet held 445,779 LINK.</p>
<div class="lb-trans"><p>第二天，同一个钱包又提取了 246,259 LINK，价值 308 万美元。在这两笔交易后，该钱包持有 445,779 LINK。</p>
</div><h2><strong>Exchange outflows echoed earlier accumulation phases</strong></h2>
<div class="lb-trans"><h2><strong>交易所流出反映早期积累阶段</strong></h2>
</div><p>CryptoQuant exchange data pointed to declining LINK supply on exchanges. Such outflows are historically aligned with accumulation rather than distribution phases.</p>
<div class="lb-trans"><p>CryptoQuant 的交易所数据指出，交易所上的 LINK 供应量在下降。这种流出在历史上与积累阶段而非分发阶段相一致。</p>
</div><p>This behavior contrasted with panic-driven deposit spikes.</p>
<div class="lb-trans"><p>这种行为与恐慌驱动的存款激增形成对比。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/12/Chainlink-Exchange-Outflow-Total-All-Exchanges.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/12/Chainlink-Exchange-Outflow-Total-All-Exchanges.png"/></p>
<p>Source: CryptoQuant</p>
<div class="lb-trans"><p>来源：CryptoQuant</p>
</div><p>During 2019–2020, similar exchange outflow patterns were observed ahead of the 2021 expansion. A similar structure appeared again during the 2022–2023 period, before the 2024 rally. In 2025, exchange outflow behavior rhymed with both prior phases.</p>
<div class="lb-trans"><p>在 2019 年至 2020 年期间，类似的交易所流出模式在 2021 年扩张前被观察到。在 2022 年至 2023 年期间，类似的结构再次出现，随后是 2024 年的反弹。在 2025 年，交易所流出行为与之前的两个阶段相呼应。</p>
</div><h2><strong>Can LINK hold KEY support amid retail caution?</strong></h2>
<div class="lb-trans"><h2><strong>在散户谨慎的情况下，LINK 能否保持关键支撑？</strong></h2>
</div><p>The $12–$12.5 zone acted as a critical structural support. Bulls needed to hold this area to preserve the consolidation structure.</p>
<div class="lb-trans"><p>12 至 12.5 美元区间作为关键结构支撑。多头需要保持该区域以维持整合结构。</p>
</div><p>Failure risked a slide toward the $9–$10 demand zone.</p>
<div class="lb-trans"><p>失败将面临滑向 9 至 10 美元需求区的风险。</p>
</div><p>On the upside, $27 remained a major resistance barrier. A clean break above that level opened the door to range highs.</p>
<div class="lb-trans"><p>在上行方面，27 美元仍然是一个主要的阻力位。干净突破该水平将打开通往区间高点的大门。</p>
</div><p>Until then, price action favored consolidation over expansion.</p>
<div class="lb-trans"><p>在此之前，价格走势更倾向于整合而非扩张。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2>Final Thoughts</h2>
<div class="lb-trans"><h2>最终思考</h2>
</div><ul>
<li><em>Chainlink’s price action reflected caution, but underlying flows suggested positioning rather than panic.</em></li>
<li><em>If support continues to hold, the consolidation phase may act as a staging ground rather than a breakdown signal.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>Chainlink 的价格走势反映了谨慎，但潜在流动表明的是布局而非恐慌。</em></li>
<li><em>如果支撑继续保持，整合阶段可能作为一个准备阶段，而不是破裂信号。</em></li>
</ul>
</div><hr/>
<div class="lb-trans"><hr/>
</div>

Chainlink 在恐慌中维持在 12.5 美元——LINK 能否避免更深的下跌？