Chainlink Drops Below $14.50 Amid Strong Selling Despite Reserve Accumulation

Chainlink’s LINK token fell sharply on Thursday, extending a near 5% decline over 24 hours and dipping below $14.50 as technical selling pressure outweighed buying interest.

LINK dropped from an intraday high of $15.26 to $14.73 before continuing its slide, hitting the lowest levels since late October, according to CoinDesk data. The token underperformed the broader CoinDesk 5 Index, which fell 3.7% over the same period.

Trading activity surged during the decline, with 3.32 million LINK changing hands—118% above the daily average—signaling a decisive rejection of the $15.00–$15.26 resistance zone, according to CoinDesk Research’s technical analysis model. A rapid three-wave liquidation cascade between 17:05 and 17:41 UTC saw more than 360,000 tokens traded in minutes, pushing the token toward new support around $14.40 as bearish momentum accelerated.

Despite the sharp drop, Chainlink’s Reserve continued accumulating LINK, purchasing 74,049 tokens on Thursday and bringing total holdings above 800,000. The reserve’s average cost of acquisition is roughly $20, leaving it around 27% underwater.

Analysts noted that with LINK now trading under $14.50, the short-term risk window has narrowed. A break below the $14.40–$14.50 support zone could see prices test $14.20, while reclaiming $15.00 is viewed as critical to stabilizing momentum.

Key Technical Levels

• Support/Resistance: Immediate support at $14.40–$14.50; resistance at $15.00 and $15.26.
• Volume Analysis: Breakdown volume surged 118% above average, indicating institutional-driven selling pressure.
• Chart Patterns: Trendline break confirms bearish reversal from recent highs.
• Targets & Risk/Reward: Holding $14.40 contains downside to $14.20; recovery requires a move above $15.26.