The price of Chainlink's native token, LINK, is currently consolidating within a long-term technical pattern that has been developing for years, suggesting a significant price move may be imminent. Following a rejection from its 2025 highs above $26, LINK is trading around $13.30, with its market capitalization holding near $9.39 billion.
On-chain data reveals notable selling pressure from large holders. According to analyst Ali Charts, whales have sold over 2 million LINK tokens in the past week, causing a dip in whale-held balances. However, analysts note this selling could represent profit-taking or liquidity preparation ahead of a potential breakout rather than a full-scale exit, as the price has remained resilient above key support levels.
Technically, LINK is compressing inside a broad ascending structure on the weekly chart, defined by a rising support trendline and a descending resistance line dating back to the 2021 peak. A confirmed breakout above the $18–$20 resistance zone could trigger a rally of 70–80% toward the $24–$26 range. Conversely, a weekly close below the crucial $12–$13 support zone or the 200-week moving average would invalidate the bullish setup and likely return LINK to range-bound conditions.
Adding to the cautious sentiment is a decline in trading volume and ETF inflows. LINK's daily trading volume has crashed by over 20% to $588.53 million, correlating with decreased market activity. The formation of a bearish pennant pattern on the charts further signals market indecision. The reduced ETF inflows specifically tied to Chainlink exposure have contributed to the current stagnation phase, which began in late November.
