Articles by CD Analytics,Krisztian Sandor

Technology

Chainlink's LINK Drops 8% Below Support Despite Largest Token Buyback Since August

Native token of oracle network Chainlink LINK$16.52 plunged through critical support levels on Thursday as institutional selling dominated the session. The token declined 8% from $18.39 to $16.92 over the past 24 hours, falling below a descending trendline that contained recent price action, CoinDesk research's market insight tool showed. Trading volume surged to 3.94 million units during the initial breakdown, nearly double the average. Recent hourly data shows LINK trapped below $17 in a narrow consolidation range. Multiple attempts to reclaim the $17 psychological level failed as trading activity dropped 58% below session peaks. The compression suggests institutional buyers remain absent despite oversold technical conditions developing. On the news front, real-world asset protocol Ondo Finance named Chainlink the provider of price feeds for over 100 tokenized stocks and ETFs. The service includes streaming data about corporate actions like dividend payments to ensure accurate valuations across multiple blockchains. The partnership also involves Chainlink's Cross-Chain Interoperability Protocol (CCIP) and collaborations through the Ondo Global Market Alliance. The Chainlink Reserve, which uses protocol revenue from partnerships and services to purchase tokens on the open market, added another 64,445 LINK to its stash on Thursday. That's the largest nominal acquisition since early August, when the reserve started. It now holds $11 million worth of LINK. What traders should watch: Support/Resistance: Immediate resistance at $17.00 psychological level, stronger resistance at $18.20 from failed recovery attempt.Volume Analysis: Exceptional 3.94 million unit volume during breakdown confirmed institutional selling.Chart Patterns: Descending trendline break triggered accelerated selling through multiple support zones.Targets & Risk: Next support target $16.50 zone, potential deeper correction toward $16.00 if consolidation fails. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

Technology

Chainlink Drops, Then Bounces 4% as FOMC Volatility Drives Crypto Market

Chainlink’s native token LINK LINK$17.96 recovered to $18.40 during the Wednesday session, reversing losses from a sharp intraday selloff that saw the price fall below the key $18 support level. A sudden volume spike of 4.59 million tokens — 178% above the 24-hour average — confirmed the breakdown as sellers overpowered short-term support levels. The token briefly consolidated between $17.80 and $18.30 before buyers stepped in late in the day, CoinDesk Research's market insight tool suggested. The rebound coincided with the broader crypto markets stabilizing after a Federal Reserve Chairman Jerome Powell's slightly hawkish speech, which saw bitcoin BTC$113,421.04 briefly dipping below $110,000. LINK was up roughly 4% over the past 24 hours. What traders should watch Despite the downside move, underlying accumulation trends remain in play. Since early October, approximately $188 million worth of LINK has been pulled off exchanges by whale wallets, indicating strategic long-term positioning. Still, recent price swings show that near-term resistance near $18.60 continues to trigger profit-taking, muddying the short-term outlook. Volume rose 26% above the seven-day average as traders reacted to heightened volatility. The sharpest price decline occurred in the 60-minute window between $18.03 and $17.96, extending a bearish pattern that appears to have exhausted by the session close. Extremely light volume in the final trading hour points to a possible slowdown in institutional selling. For now, LINK's ability to hold above $18 will be a key signal. A sustained move higher could push the token back toward the $19 level, but failure to hold the line may expose downside toward the $17.60 support floor. Key technical levels signal consolidation Support/Resistance: Critical support established at $17.60 with immediate resistance at $18.50-$18.80.Volume Analysis: 26% surge above weekly averages confirms breakdown legitimacy, though diminishing activity suggests pause in selling.Chart Patterns: Range-bound consolidation between $17.80-$18.30 following initial breakdown through $18.00.Targets & Risk/Reward: Reclaiming the $18 level opens way to $18.50-$18.80 resistance zone, while failure to hold $17.60 may extend declines toward $17.00. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.