•  Chainlink whales accumulated over 4 million LINK in two weeks despite market pressure.
• Price dropped from $25 to $15, signaling a short-term bearish trend.
• Key support sits near $13.7, with a critical floor around $11.4.

Chainlink has seen renewed whale activity as large investors added over 4 million LINK tokens in the past two weeks, according to analyst Ali.

Despite this accumulation, LINK’s price has faced a notable correction. Currently trading at $15.05, up 4.02% in the last 24 hours, the asset closed the week at $15.03, fluctuating between $13.71 and $17.65.

The recent market movement follows a sharp drop from its multi-week high near $25. The weekly candle formation reflected a strong rejection from higher levels, indicating that sellers dominated the market.

The decline from $23–$25 to the $15 zone shows that the bullish phase has lost its momentum, and the market could soon retest lower levels if pressure persists.

Chainlink remains above its 200-period FBB line near $11.41, which keeps a long-term bullish structure intact. However, the short-term momentum has turned negative, reflecting a temporary shift toward bearish control.

Also Read: Chainlink (LINK) Price Prediction: Key Support at $14 Could Trigger a Rally to $46

Bearish Crossover Signals Ongoing Selling Pressure

Technical readings suggest weakening momentum. The weekly MACD shows a negative crossover with the MACD line at -0.821 and the signal at 0.273, forming a bearish histogram of -1.094. This setup signals that selling pressure remains dominant until momentum indicators flatten or converge.

Meanwhile, the Squeeze Momentum Indicator reads at 0.8138, showing fading green bars, suggesting declining bullish strength. Volatility remains elevated at around 53.9, pointing to sharp and unpredictable price movements in the short term.

A sustained drop below the $13.70 support could open the door for a quick move toward $11.40, where the 200-period FBB line lies. Traders may need to manage risk carefully, as volatility could lead to large price swings.

Chainlink Key Levels to Watch

Immediate resistance stands near $17.65, followed by a critical supply zone between $19.6 and $24, where sellers have previously emerged. Reclaiming this zone would be a strong sign that bulls are regaining control.

On the downside, the $13.7 level remains the first defense for buyers. A clear weekly close beneath this mark could trigger an acceleration toward $11.4, marking a deeper retracement phase.

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