Despite a significant 41% increase in new Chainlink addresses over the past week, the cryptocurrency has continued to decline. This downturn reflects ongoing bearish market trends and raises questions about Chainlink’s future trajectory. However, analyzing exchange reserve data reveals potential clues for future price movement. While initial inflows from exchanges suggest investor accumulation, continued withdrawal patterns point towards preparation for eventual selling. 41% growth in new addresses indicates increased network engagement and potential demand, but these figures remain below past peaks, suggesting a cautious approach. The presence of substantial whale activity warrants close attention as their movements significantly impact market stability. Overall, the market remains uncertain with short-term volatility countered by a persistent downtrend. Whether Chainlink will break out or continue its downward trend remains to be seen.