- ChainLink‘s native token LINK fell to its lowest price since early August, dropping below $20 amid broader cryptocurrency market declines.
- LINK lost approximately 4% in 24 hours and is down about 28% from its August peak.
- Wealth management firm Caliber expanded its holdings, purchasing an additional $4 million in LINK tokens, increasing its total to $10 million.
- The Chainlink Reserve acquired nearly 48,000 LINK worth about $1 million, taking overall purchases to over 370,000 tokens since August.
- Despite the drop, trading activity and continued institutional buying suggest support for LINK just above $20, with resistance expected around $20.57.
The price of Chainlink’s native token, LINK, dropped to its lowest point since early August, slipping below $20 several times between Thursday and Friday. This decline took place as the wider cryptocurrency sector experienced similar losses.
LINK fell by nearly 4% over the last 24-hour period and has lost almost 28% since reaching its peak in August. Amid this downturn, wealth management company Caliber announced it had purchased an extra $4 million worth of LINK tokens, bringing its total LINK holdings to $10 million, according to a press release.
In addition to this, the Chainlink Reserve—which buys tokens using revenue generated from protocol integrations and services—purchased nearly 47,903 LINK on Thursday. This transaction was valued at just under $1 million at current prices. Since launching in August, the Reserve has bought over 370,000 tokens, totaling around $7.5 million, as shown on its metrics page.
CoinDesk Research’s technical analysis shows buyers continue to defend the $20 mark for LINK. For a lasting upward shift, bulls would have to move past the next resistance, which stands near $20.57.
The past day saw LINK drop from $21.16 to $19.95, then recover to $20.26. Trading volume exceeded 5 million units, reflecting strong institutional activity. The report identifies key support between $19.95 and $20.00, with notable resistance zones at $20.30–$20.35 and $20.57. A bullish price pattern suggests possible sustained gains if resistance levels are overcome.
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