As on-chain whale buying activity clearly weakens, Chainlink’s price is forming a bearish pattern with significant risk implications, and market concerns about LINK’s short-term trend continue to intensify. Data shows that Chainlink has fallen approximately 4.5% in the past 24 hours, retreating more than 16% from its monthly high. The current price is around $12.38, with a year-to-date decline of over 50%.
From a capital behavior perspective, changes in whale demand are particularly critical. Nansen data indicates that the number of large addresses holding LINK increased from 1.77 million to 1.91 million in the first half of December, but then quickly fell back to 1.87 million. Historical experience suggests that whale de-risking is often seen as a leading signal of Chainlink’s price movement, which can weaken retail investor confidence and accelerate market sentiment deterioration.
Meanwhile, on-chain fundamental indicators for Chainlink are also weakening. According to DeFiLlama data, the total value locked (TVL) in DeFi protocols built on the Chainlink network has decreased from $1.13 billion in late August to approximately $530 million now, a decline of over half. Additional data shows that since September, weekly fee income on the Chainlink network has dropped nearly 50%, reflecting a significant cooling of ecosystem usage and demand.
On the technical side, Chainlink’s daily chart is forming a classic descending triangle pattern, composed of a downward trendline and a horizontal support line, typically considered a continuation bearish pattern. Currently, LINK’s price is only about 5% above the support level; once it effectively breaks below, selling pressure could rapidly intensify.
Momentum indicators are also bearish. The MACD is below the zero line, and the RSI has fallen to around 42 and continues to decline, indicating sellers still hold the advantage, and the price has not yet entered an oversold zone. Coupled with the previously market-focused long-term double top risk, the downside uncertainty for Chainlink’s price further increases.
Overall, if LINK cannot hold the important support level of $10.1—an essential level since mid-2024—Chainlink’s price may decline toward the previous low around $8. Under the backdrop of weakening whale demand, cooling on-chain data, and technical pressure, Chainlink’s short-term trend still faces significant downside risk. Investors should closely monitor changes in key support levels.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Holds $69K–$71K Range Amid Middle East Ceasefire Confusion
Bitcoin hovered in a narrow band between $69,000 and $71,000 as traders weighed mixed diplomatic signals over a possible Middle East ceasefire.
Divergent Signals From Washington
Bitcoin maintained a tight consolidation pattern between $69,000 and $71,000 Wednesday as market participants
Coinpedia2h ago
Dogecoin Tests $0.090 Support After 3.4% Drop as Traders Watch Key Price Range
Dogecoin is currently trading at $0.09061 which is a drop of 3.4 percent, and the price is close to the important level of $0.09011 support.
The chart indicates a series of tests of the support zone of $0.089-$0.090, and the closest resistance is represented by $0.09353.
A hold of
CryptoNewsLand2h ago
Tom Lee Predicts ETH ATH at $15,000 as Ethereum Activity Hits Record Levels
Tom Lee predicts ETH ATH at $15,000 and above.
Ethereum network usage activity hits record levels.
This is a bullish signal, a move unseen since 2021 bull run.
As the price of the pioneer crypto asset, Bitcoin (BTC), continues to try and reclaim prices above $70,000, the pioneer
CryptoNewsLand2h ago
Bitcoin Nearing Undervalued Territory? CryptoQuant Flags Key On-Chain Signal
CryptoQuant sparked fresh debate in markets this week after posting a short-but-sharp take on a once-obscure on-chain gauge: the one-week-to-one-month holding ratio. The firm pointed out that this ratio, a measure of how much Bitcoin is being held for very short windows versus slightly longer
BlockChainReporter3h ago
XRP Holds $1.34 Support While Leverage Heatmap Highlights $1.30 Risk Zone
XRP is trading at $1.36 in a tight range of support at $1.34 and resistance at $1.37.
The heatmap data indicates that there is a huge amount of long positions in the range of $1.30.
Should prices fall to around $1.30, long positions with high leverage in this region might
CryptoNewsLand3h ago
BTC 15-minute decline of 0.60%: key support broken, combined with leverage deleveraging triggering short-term selling pressure
2026-03-11 17:30 to 2026-03-11 17:45 (UTC), BTC's 15-minute return decreased by -0.60%, with prices fluctuating between 70515.2 and 71317.0 USDT, with an amplitude of 1.13%. Trading volume significantly increased compared to the previous period, with selling pressure dominating, short-term market volatility intensifying, and market attention heating up.
The main driver of this anomaly was BTC losing the key support zone at $68,000-$68,200, triggering algorithmic trading sell-offs and stop-loss orders to be released in concentration, leading to a short-term decline. Meanwhile,
GateNews4h ago
