Chainlink whales buy 4 million LINK despite market decline, with key support at $13.7 and resistance at $17.65.
In a surprising turn of events amidst a sluggish cryptocurrency market, Chainlink (LINK) whales have been on a buying spree, acquiring over 4 million LINK tokens in just the past two weeks. This action reflects the growing confidence among major investors, even as LINK’s price faces substantial downward pressure. Currently priced at around $15.05, LINK has seen a dramatic decrease from its recent highs, prompting many to speculate about the future trajectory of this leading decentralized oracle network.
Chainlink Faces Price Correction After Sharp Decline
Chainlink has recently experienced a notable price correction, plummeting from its multi-week high of nearly $25. This downtrend—approximately a 40% decrease—raises concerns about a potential end to its bullish cycle. As LINK continues to grapple with short-term bearish pressures, maintaining the $13.7 support level becomes vital for buyers. Should this support fail, traders fear a potential decline towards the more substantial long-term support at $11.4, sparking a fierce battle between market bulls and bears.
Whale Activity Remains Strong Despite Market Downturn
Despite the broader market’s downturn, whale activity in the Chainlink ecosystem has been robust. Large investors have collectively added more than 4 million LINK to their holdings, indicating a strategic positioning in anticipation of an eventual market rebound. Analysts suggest that this accumulation not only reflects confidence in Chainlink’s long-term prospects but may also help stabilize the token’s value in the short term, providing a buffer against continued selling pressure.
Whales have accumulated more than 4 million Chainlink $LINK over the past two weeks! pic.twitter.com/CdFg1EdJLj
— Ali (@ali_charts) November 7, 2025
This significant whale activity sends mixed signals to smaller investors. While whales often possess the ability to influence market movements through large trades, their collective decisions may bolster the sentiment around LINK, encouraging other investors to remain engaged despite the ongoing volatility.
Technical Indicators Show Bearish Signals
Technically, the current landscape for Chainlink is marked by bearish indicators. The weekly Moving Average Convergence Divergence (MACD) has recently posted a negative crossover, implying ongoing selling pressures. At present, the MACD line is anchored at -0.821, with the corresponding signal line at 0.273, resulting in a bearish histogram reading of -1.094. This data indicates that purchasing momentum appears diminished, casting uncertainty over the immediate future.
Additionally, the Squeeze Momentum Indicator has revealed fading bullish strength, as showcased by the diminishing green bars on its chart. Traders should note that volatility is elevated at around 53.9; such heightened measures signify the potential for rapid and unpredictable price swings in Chainlink, reinforcing the necessity for caution among market participants.
Key Levels to Watch for Chainlink Price Movement
For those trading or investing in Chainlink, recognizing pivotal support and resistance levels is crucial. On the upside, immediate resistance can be observed around $17.65, with a notable supply zone emerging between $19.6 and $24. Historically, sellers have manifested strongly at these price points. Reclaiming these levels would suggest the resurgence of bullish sentiment and market strength.
Conversely, the $13.7 mark remains a critical support threshold. A breach below this level could precipitate further price declines, with the next significant support situated at $11.4. Given the current volatility, traders must stay vigilant, closely monitoring these key levels to effectively manage their risk and positioning in the ever-changing cryptocurrency landscape.
