Whale accumulation intensifies as Chainlink slips 1.35%

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Chainlink slips 1.35% today

Highlights

Chainlink (LINK) trades at $17.52, below its MA-20 ($19.70) and MA-50 ($21.57), facing near-term selling pressure with support near $17.61.
Since October 11, over 6.25 million LINK tokens have been withdrawn from exchanges by new wallets amid intensified institutional and whale accumulation ahead of the ERC20 deposit reopening and October 22, 2025 call auction.
Weekly forecast projects a $14.54–$15.63 range and less than 20% probability of price increase, signaling higher likelihood of further declines unless $21.57 resistance is broken.

Whale accumulation and event-driven positioning raise optimism ahead of auction

Chainlink is set to reopen deposits via the Ethereum (ERC20) network, with a scheduled call auction planned for October 22, 2025 to stimulate renewed trading interest. Large-scale accumulation by institutional and whale holders has intensified, with over 6.25 million LINK tokens withdrawn from exchanges by new wallets since October 11, indicating growing confidence. Whales continue defending key support levels, contributing to increased trading activity and positioning ahead of the upcoming event.

Mixed momentum and bearish signals converge amid moderate intraday weakness

Momentum readings present a mixed picture as MACD remains in sell territory while ADX shows robust trend strength. Oscillator signals are conflicted: RSI and CCI lean bearish while Stoch RSI points to buying interest, and BBP is neutral, suggesting neither buyers nor sellers strongly dominate intraday. Awesome Oscillator confirms downward momentum. LINK has slipped 1.35% so far today, dropping $0.24 from the previous close without any notable price gap at the open, and is trading close to the lower end of today’s $17.42–$17.84 range. Intraday volatility is moderate and early trading tone reflects some pressure after the open. Overall, momentum and oscillators show divergence, with intraday price weakness aligning more with bearish than bullish signals.

Downside risk prevails as breakout above resistance remains unlikely

The anticipated price range for the next five trading days is $14.54 to $15.63 according to the weekly forecast. The probability of a price increase is very low (less than 20%), making further declines more likely. The baseline scenario suggests LINK will remain in a sideways corridor unless there is a decisive move. A bullish scenario could unfold if price breaks above $21.57 resistance, opening the way for a reversal. Conversely, a bearish scenario would see LINK fall below dynamic support at $15.82, exposing it to further downside toward the forecasted weekly lows.

Viktoras Karapetjanc, expert at Traders Union, sees constructive signals emerging for Chainlink (LINK) despite current technical headwinds, emphasizing the institutional accumulation and anticipated network events as key sentiment drivers. He believes that although LINK faces bearish momentum in the short term and may trade in a sideways-to-lower range, the ongoing shift of tokens to cold wallets and strong whale support are fundamentally positive developments. While intraday indicators show pressure and the probability of an immediate rebound is low, macro and sentiment factors favor medium-term recovery once technical resistance at $21.57 is challenged. "Accumulation by large holders and positive ecosystem news create a solid foundation — I expect LINK to surprise to the upside once the market structure confirms a reversal," says the expert.

Previously it was noted that seller dominance persists as mixed signals cap upside potential for Chainlink. Last time we reported that volatility persist as momentum signals diverge.

Source of Data: LINK Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.