Chainlink Slides Below $14.50 as Reserve Adds 74K LINK Amid Selloff
Chainlink extended its decline Thursday, sliding almost 5% over the past day to trade near $14.53 and briefly break below the $14.50 level as technical selling pressure outweighed bids. The move comes amid a broader market pullback that has pushed traders to trim risk and forced short-term holders to exit positions around key support bands.
Despite the weakness, on-chain activity reveals the Reserve added about 74,000 LINK to its holdings during the drop, signaling institutional or protocol-side accumulation in the face of lower prices. That purchase could provide localized demand if selling eases, but market participants will be watching volume, macro cues and further technical levels to judge whether this is a tactical buy or the start of a stabilization phase.