Chainlink Falls Under $14.50 as Selloff Deepens Despite Reserve Builds
Chainlink’s LINK extended a sharp decline on Thursday, dropping beneath the key $14.50 support after a failed attempt to sustain momentum above $15 earlier in the week. The breakdown occurred on elevated trading volume, indicating sellers outpaced buyers and contributing to broader bearish sentiment across the crypto market.
Notably, on-chain metrics flagged an increase in LINK reserves, suggesting accumulation by some holders, but that build-up has not been enough to absorb selling pressure so far. The breach of $14.50 raises the risk of further downside and puts focus on lower support zones and liquidity levels. Traders and observers will be watching on-chain flows and macro cues, such as Bitcoin direction and rate headlines, for signs of stabilization or continued weakness; this move could weigh on confidence in oracle-token performance if it persists.