Chainlink Holds Firm at $14: Major Holders Accumulate While Bears Anticipate a Drop

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Chainlink Holds Firm at $14: Major Holders Accumulate While Bears Anticipate a Drop

Bitget-RWA2025/11/17 19:46

By:Bitget-RWA

- Chainlink (LINK) faces critical $14 support as whales accumulate 150,000 tokens, signaling potential price volatility. - Whale outflows from exchanges and technical indicators show mixed signals, with $14.50–$15.00 acting as key accumulation zone. - Bearish short positions and declining retail participation (71% lower Open Interest) challenge sustained recovery above $17.37. - Analysts highlight triangle pattern near $13–$26 range, with breakout direction determining next major price movement.

Chainlink (LINK) is once again in the spotlight as major investors have accumulated 150,000 tokens, fueling speculation about a possible price recovery. The digital asset is currently hovering around crucial support at $14, with market observers pointing out a combination of bullish and bearish factors that could influence its next direction. Whale transactions, technical signals, and overall market mood are all converging, suggesting a potential breakout for the decentralized oracle platform.

Latest on-chain metrics indicate notable whale involvement, with large holders

pulling more than $26 million worth of LINK

from platforms such as Binance. This movement reduces available liquidity and hints at strategic moves ahead of possible price shifts. "Whales are changing their approach," one expert commented,

noting that this kind of activity often comes before increased volatility

. The accumulation is happening as the $14–$15 support area is being defended, with buyers consistently absorbing downward pressure,

stopping a steeper decline

Although the wider market remains wary, the shrinking supply on exchanges could help curb further

downward pressure

As per technical experts

, "The $14.50–$15.00 zone has shown strength, serving as a long-term accumulation region." Should this support persist, it may pave the way for a move up to $17.50, which matches the top of a descending channel formation.

Chainlink’s recent price movements have created a consolidation pattern similar to a triangle, which often signals either a continuation or reversal of the trend. Experts point out that the $13–$26 range is considered a "no-trade zone," and a breakout from this range is likely to set the stage for the next significant move. The token is approaching the tip of this pattern, where volatility is expected to rise.

Technical signals offer a mixed outlook.

The Moving Average Convergence Divergence (MACD) is showing early signs of bullish divergence

, as the histogram narrows and the signal lines are close to crossing. On the other hand,

the 50-day Exponential Moving Average (EMA) has just confirmed a "Death Cross"

, adding to bearish sentiment. The Relative Strength Index (RSI) has edged up to 36,

indicating a hint of bullish strength

, but a sustained move above $17.37 (the 50-day EMA) is still needed for a more optimistic outlook.

Even with whale accumulation and technical support,

interest from retail investors remains subdued

. Open Interest (OI) in

LINK

futures has dropped by 71% since its August high, pointing to low activity in the derivatives market.

This weak retail participation, along with a rise in bearish short positions

, may slow down any potential recovery. "Traders are leaning bearish, with the OI-Weighted Funding Rate now at 0.0019%," analysts observed, highlighting the current support’s vulnerability.

For bullish investors, the immediate priority is to keep the $14 support intact.

Holding this level could spark a rally toward $19.14

, with further gains possible up to $23.79 if the upper channel is surpassed. On the flip side,

a drop below $14 could lead to a test of $13

, with additional support at $12.50 and $12.

Chainlink is at a crucial crossroads, with whale buying and technical factors hinting at a possible breakout. While the $14 support area is holding for now, the future trajectory will depend on whether buyers can maintain momentum above this threshold. Experts recommend closely watching the MACD crossover, OI patterns, and overall market trends as LINK enters its next stage.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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