Chainlink’s strategic reserve added 91,100 LINK worth approximately $1.06 million, according to Onchain Lens. The reserve accumulated 511,000 LINK valued at roughly $5.52 million over the past 30 days, bringing its total holdings to 5.86 million LINK worth about $67.24 million.

The reserve update comes as LINK retreats from its September rally. The token rose from around $12 to between $13.50 and $13.60 on September 7, but subsequently formed lower highs and lower lows through $13, $12.50 and $12. A rebound on September 11 briefly lifted LINK above $12 before the move was rejected.

LINK later settled near $11.50, which became an immediate support level. At the latest reported reading, LINK traded at $11.531. The latest candle opened at $11.516, reached $11.531 and posted a low of $11.500. Trading volume was approximately 4.98K LINK, indicating relatively light activity during that candle.

The reserve accumulation and the price retreat therefore describe two developments occurring over the same period, but the reported figures do not establish that the purchases caused LINK’s subsequent price moves.

Strategic Reserve Adds 91.1K LINK

Onchain Lens reported that the latest purchase added 91.1K LINK to Chainlink’s strategic reserve. The addition raised total holdings to 5.86 million LINK. Over the preceding 30 days, the reserve had accumulated 511,000 LINK worth approximately $5.52 million.

The latest purchase was valued at about $1.06 million, while the full reserve was valued at roughly $67.24 million. The figures were also reported by Cryptofrontnews.

Van de Poppe Watches for a Move Below $10.50

Analyst Michael van de Poppe identified two areas of interest for LINK, including a level below $10.50. He said he would consider buying a dip if Bitcoin makes a lower sweep and remains interested in any lower wick, while also noting that LINK has already been a strong runner. His comments came while LINK traded near $11.50.

Momentum indicators remained mixed. The relative strength index stood at 46.99, while its moving average was 46.34. RSI remained below 50 after recovering from weaker levels around September 10.

The moving average convergence divergence indicator remained negative, with the MACD line at -0.036 below the signal line at -0.032. The histogram was near -0.004. Based on the reported levels, support was positioned around $11.00-$11.20, with resistance at $11.80-$12.00 and then $12.50.