Overview
- LINK has dropped about 49% from its August peak of $27.70, breaking $14 to intraday lows near $13.45 as 24-hour trading volume jumped roughly 59% to more than $837 million.
- The daily chart is close to a death cross, with the 50-day simple moving average on the verge of crossing below the 200-day, a signal often associated with extended downtrends.
- Price action sits at the lower boundary of a multi-year symmetrical triangle, increasing the risk of a decisive breakdown.
- Key levels flagged include support around $11.77–$10.97, while a daily close below $13 could open a path to revisit multi-year support near $8.50.
- DeFiLlama data show TVL across Chainlink-linked applications has fallen to about $608 million from $1.13 billion since late August, even as Nansen reports whale holdings rose roughly 20% to 2.06 million LINK over the past week.