Chainlink (LINK) price has slipped below the $13 mark as broader market sentiment turns defensive and sellers tighten their grip. The drop suggests bulls are struggling to protect key levels, while short-term traders appear to be selling rallies instead of buying dips. With price now trading under an important psychological zone, attention shifts to the next support area and whether it can hold. If it doesn’t, LINK could face another leg lower before any meaningful rebound attempt takes shape.
Whales Hopeful of the Upcoming Rally While Retailers Fall in FUD Trap
The current market dynamics have turned bearish as the Bitcoin price slipped below $91,000. With this, the Chainlink price also plunges below $13 and is currently trading around $12.5 from the interim highs above $14.1. Despite this drop, the whales appear to remain highly active, as they have been accumulating LINK since late 2025.
This Santiment chart compares Chainlink’s price with the total LINK supply held by the 100 largest wallets. While LINK has moved mostly sideways and recently slipped lower, the green line trends upward, showing whales have been accumulating. The annotation highlights about 16.1 million LINK added by top wallets since early November. In simple terms, large holders are increasing their exposure during weakness, which can be a bullish long-term signal, even if the price stays pressured in the short term.
Can the Bull Defend the Support at $12?
Chainlink (LINK) is under fresh pressure after losing the $13 handle, with sellers regaining control on the daily chart. Price is now trading near the lower end of a multi-week range, where bulls have repeatedly defended support. Volatility remains elevated but is starting to tighten, hinting at a directional move ahead. With LINK sitting below the midline of its Bollinger Bands and momentum weakening on RSI, traders are watching whether support holds—or snaps into a deeper pullback.
LINK is range-bound between a clear resistance band near $14.0–$14.3 and support around $12.0–$12.3 (boxed zones). Price has slipped below the Bollinger mid-band (20-SMA), while the lower band is near current levels, signaling downside bias but a potential short-term bounce. RSI (~40) sits below 50, showing weak momentum. If $12.0 breaks, targets sit near $10.9, then $10.0. A rebound needs a close above $14.3, targeting $15.5–$16.0.
The Bottom Line
Chainlink price is sending mixed signals right now. On-chain data shows large wallets steadily accumulating, which often reflects longer-term confidence. But the price chart still looks fragile, with LINK trading below key resistance and momentum leaning bearish. That gap between “whales buying” and “price struggling” usually means the market needs time to reset before a cleaner trend returns. If support holds, LINK can stabilize and attempt a recovery. If it fails, a deeper dip is possible—but accumulation suggests buyers may treat lower levels as opportunities rather than an exit.
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