The native token of the Chainlink oracle network fell sharply on Friday, falling nearly 9% to $16.46, its weakest price since last Friday’s cryptocurrency crash.
The pullback came amid concentrated selling pressure, particularly between 6:00 and 8:00 a.m. ET on Friday, CoinDesk Research’s analytical model noted. A brief late-session rally saw LINK rise modestly by 0.4% in the past hour, but not enough to offset earlier losses.
Despite the sharp decline, business interest in LINK seemed steady. Caliber Corporation (CWD), a Nasdaq-listed real estate investment company, on Thursday disclosed a $2 million acquisition of LINK. The purchase brought Caliber’s total LINK to 562,535, worth approximately $9.2 million at current prices.
Meanwhile, Chainlink Reserve added another 59,969 LINK to its holdings, bringing its holdings to 523,159 tokens. However, with a base average cost of $21.98, the pool remains deeply underwater, more than 34% below its entry point.
On the technology front, Chainlink advanced its product roadmap with the launch of Data Streams on MegaETH, a high-speed blockchain optimized for real-time applications. The integration enables smart contracts to access live market data with sub-second latency, supporting DeFi use cases such as perpetual swaps and stablecoin trading with centralized exchange-level speed.
Technical Analysis Breakdown:
- Chainlink experienced a significant sell-off, falling from $18.07 to $16.46, representing a substantial 9% sell-off with an overall trading range of $2.25.
- Critical institutional support emerged in the $15.72-$15.82 zone with strong volume confirmation, while resistance formed at $17.43 with multiple rejections throughout the trading session.
- LINK established a new support level around $16.30-$16.35 as possible re-entry strategies.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
