Chainlink Faces Selling Pressure; Could Test $20 Support or Slip Toward $18.70

• Whale selling: two large sales totaled $8.17M, increasing downward pressure.

• Exchange netflow and spot taker metrics point to seller dominance across major platforms.

• LINK traded within a descending channel from $25 to a low near $19; key levels: $20 support, $22.2 reversal.

Chainlink price tumbles as whales sell $8.17M in LINK; watch $20 support and $22.2 daily close for reversal. Read the on-chain analysis and key trading levels.

What is driving the Chainlink price decline this week?

Chainlink price has fallen as large holders and retail investors increased selling, pushing LINK to $20.4. On-chain monitors such as CryptoQuant and Coinalyze report seller-dominant taker metrics and rising exchange inflows, signaling intensified downward momentum for the altcoin.

How are whale transactions impacting LINK price?

On-chain monitors flagged two major whale sales: 233,094 LINK (~$4.85M) and 163,990 LINK (~$3.32M), totaling about $8.17M in liquidations. These outsized exits increased exchange supply and coincided with a negative Cumulative Volume Delta, amplifying pressure on the market.

Data sources cited in this report: CryptoQuant, Coinalyze, Onchain Lens, TradingView (mentioned as plain text for reference).

Frequently Asked Questions

Why are traders watching $20 and $22.2 for LINK?

Traders see $20 as immediate support; a breach could open a move toward $18.70, while a clear daily close above $22.2 would indicate a reduction in selling pressure and a possible shift toward resistance near $24.49.

How much sell volume did Chainlink record recently?

Over the most recent 24-hour window cited, LINK recorded approximately $6.3M in sell volume versus $4.8M in buy volume, producing a negative Buy–Sell Delta near $1.5M and reflecting aggressive spot selling.

How can traders monitor LINK risk and opportunity?

Use a combination of on-chain indicators and price action. Monitor Spot taker CVD for buyer/seller dominance, exchange netflow for inflows/outflows, and momentum indicators (DMI, RVGI) for trend strength.

Key Takeaways

• Whale selling: Two large sales (~$8.17M) accelerated downward momentum and exchange inflows.
• Spot metrics: Spot taker CVD and negative Buy–Sell Delta show seller dominance across the spot market.
• Key levels: Immediate support at $20; sustained breach risks a move toward $18.70. A daily close above $22.2 would favor bulls.

Conclusion

Chainlink price is under pressure as both whales and retail traders reduce exposure, supported by CryptoQuant and Coinalyze on-chain signals. Market participants should monitor $20 support and a daily close above $22.2 for a change in market structure. COINOTAG will continue to track developments and update readers as new on-chain data emerges.

Since hitting $25 a week ago, Chainlink [LINK] has traded within a descending channel, touching a low of $19.

At press time, Chainlink was trading at $20.4, representing a 16.68% decline over the past week.

Amid this market drawdown, investors, especially whales, are panic-exiting their positions.

Whales are aggressively dumping Chainlink

As Chainlink declined, both large holders and retail traders began panic-selling, increasing downward pressure across spot markets.

Spot taker CVD metrics showed seller dominance over the past week, indicating aggressive selling activity.

Source: Cryptoquant

Onchain Lens captured the large transactions: one whale sold 233,094 LINK (~$4.85M) and another sold 163,990 LINK (~$3.32M). Combined, these sales equaled roughly $8.17M removed from large holders’ balances.

Typically, whale selling during a downtrend points to profit-taking or risk reduction and is a cautionary signal for market confidence.

Retail also follows suit

With institutional and whale exits, retail investors have reduced exposure, aligning selling pressure across market tiers.

Coinalyze recorded a negative Buy–Sell Delta for three consecutive days, which correlated with the price decline.

Source: Coinalyze

Over the last 24 hours referenced, Chainlink posted roughly $6.3M in Sell Volume vs. $4.8M in Buy Volume, producing a negative Buy–Sell Delta of approximately $1.5M.

Exchange activity reinforced this trend: CryptoQuant showed positive exchange netflow for three days, with net inflows around 823.7k, another hallmark of intense selling.

Source: CryptoQuant

Can LINK hold $20 support?

Our analysis shows Chainlink’s positive DMI fell to 13 while negative DMI rose to 21; RVGI sat near -0.24 at the time of reporting, confirming negative momentum (TradingView referenced as plain text).

Source: TradingView

If sellers persist, LINK is likely to test $18.70 next. Conversely, holding $20 and achieving a daily close above $22.2 would tilt the outlook toward gains, with the next resistance zone near $24.49.

Published: 2025-09-26 | Updated: 2025-09-26 | Author: COINOTAG