- Chainlink remains near the 14-dollar support zone while whale movements and controlled selling shape the broader trend during continued market volatility.
- Long-term charts show Chainlink sitting at a critical Fibonacci area within an ascending channel, creating a decisive point for potential upward continuation.
- Short-term trading displays tight fluctuations as repeated rejections near 14.45.
Chainlink is trading near a crucial support level as whale activity shifts and short-term volatility intensifies and maintains its long-term channel structure.
Whale Behavior and Market Response
According to a report by Coin Bureau, whales purchased about 150,000 LINK after several weeks of steady selling. The brief increase followed a period where LINK’s price moved between roughly 14 and 16.80 dollars with wide intraday swings.
During this stretch, price action showed sharp moves in both directions as traders responded quickly to short-term liquidity shifts.Throughout the same period, whale supply moved slowly downward, drifting from around 543 million to 542.9 million tokens.
A noticeable reduction appeared on November 11 when whale holdings dropped more sharply, though the price decline occurred later. This pattern suggested whales were selling small amounts into upward moves while avoiding aggressive distribution.
Market conditions appeared to reflect continued volatility even as whale activity remained controlled. The relationship between these moves created a setting where short-term traders influenced direction while larger holders stayed cautious.
Key Levels and Long-Term Channel Structure
Analyst Ali stated that 14 dollars remains a crucial support area for Chainlink as it sits near the 0.618 Fibonacci retracement and the midline of a multi-year ascending channel. This zone has acted as both resistance and support across previous cycles.
Maintaining this level keeps the possibility of a gradual move toward the 20 to 50 dollar range.Chart projections show a potential liquidity sweep toward the 12 to 13 dollar region if the market searches for deeper stops.
This area overlaps with the 0.5 Fibonacci level and the lower portion of the long-term channel. From there, a return toward 18 to 20 dollars becomes possible if momentum rebuilds.
Further projections place the upper move near 28 to 30 dollars, matching the mid-upper channel zone. A more extended target appears near 46 dollars based on Fibonacci extensions if broader strength returns.
Short-Term Trading Conditions
Recent intraday charts show LINK fluctuating between about 13.85 and 14.50 dollars across November 15–16. Price moved steadily toward 14.35 dollars before slipping back as buying pressure softened.
Multiple attempts to reclaim higher levels failed, suggesting limited strength during that session.A brief rally pushed LINK to around 14.45 dollars, but this move reversed quickly and erased the gain.
The sharp rejection indicated heavy selling pressure at the top of the range during that period. Afterward, LINK drifted toward 14 dollars while forming lower highs.The session closed with a tight range controlled by short-term traders.
This kept LINK stable but without clear direction as the market waited for stronger signals from either whale activity or broader channel support.
