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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Chainlink Whales Dump Over 170 Million LINK In Three Weeks – Selling Pressure Ahead?

Sebastian Villafuerte
Sebastian Villafuerte
3 months ago
3 mins read
Chainlink Whales Dump Over 170 Million LINK In Three Weeks – Selling Pressure Ahead?

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Chainlink is trading at crucial demand levels as the entire crypto market faces heightened selling pressure and uncertainty. After weeks of volatility and downside moves, bulls continue to struggle to regain control, with LINK failing to break above key resistance levels. Still, there are early signs that the worst may be behind. Price action is beginning to stabilize, and some traders believe the current consolidation could lay the groundwork for a recovery phase.

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However, not all signals are bullish. According to on-chain data from Santiment, whales have sold over 170 million LINK in the last three weeks. This significant outflow from large holders has fueled speculation that additional downside could still exist. Whale behavior is often a leading indicator of broader market sentiment, and continued selling from top wallets may reflect a lack of confidence in the short-term price outlook.

While selling pressure appears to be fading for now, the market remains cautious. For Chainlink to break free from this uncertain range, bulls will need to defend current support and reclaim key levels. Until then, whale activity and broader market sentiment will continue to play a major role in determining LINK’s next move.

Chainlink Consolidates At Key Support As Whale Selling Clouds Outlook

Chainlink is down 17% since March 26, and its price action remains uncertain as it consolidates above a critical demand zone. While the broader crypto market continues to struggle with volatility and macro-driven selling pressure, LINK has been particularly vulnerable. Analysts are increasingly voicing concerns about a potential deeper correction, citing weak momentum and ongoing bearish sentiment across risk assets.

The fear of extended downside remains high, with many traders hesitant to step back in until clearer bullish signals emerge. The entire crypto landscape has been affected by economic instability and market indecision, and Chainlink is no exception.

Still, some believe LINK has room to recover. The project continues to expand its role in the decentralized finance (DeFi) space, with steady development and increasing adoption of its oracle infrastructure. These long-term fundamentals offer hope that once the current market pressure fades, Chainlink could be among the first altcoins to rebound.

Adding to the uncertainty, however, are troubling whale activity metrics. Crypto analyst Ali Martinez recently shared on X that whales have sold over 170 million LINK in the past three weeks. This heavy distribution supports the prevailing bearish trend and suggests that major holders are not yet confident in an imminent recovery.

Chainlink whales sold 170M LINK in 3 weeks | Source: Ali Martinez on X
Chainlink whales sold 170M LINK in 3 weeks | Source: Ali Martinez on X

For now, all eyes remain on whether LINK can hold its current support zone. A break below could open the door to further losses, while a bounce and reclaim of higher resistance levels may finally mark the beginning of a recovery phase. Until then, market participants are treading carefully as Chainlink balances between bearish pressure and the potential for a turnaround.

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LINK Struggles As Bulls Fight to Avoid Further Losses

Chainlink (LINK) is trading at $13.1 after failing to reclaim the $15 level, reflecting continued weakness following weeks of selling pressure. The rejection from $15 has left bulls in a defensive position, with price action hovering just above a key demand zone. To regain control and confirm the start of a recovery rally, LINK must not only hold above current levels but also break decisively above the 200-day moving average (MA) and exponential moving average (EMA), both sitting around $17.2.

LINK holding crucial demand | Source: LINKUSDT chart on TradingView
LINK holding crucial demand | Source: LINKUSDT chart on TradingView

These moving averages represent critical resistance, and only a clean breakout above them would signal a shift in momentum. Until then, LINK remains vulnerable to further downside, especially if market conditions stay fragile. If bulls fail to defend the $13 zone, a drop toward $10 becomes a likely scenario — a level that hasn’t been tested since late 2023.

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With broader market uncertainty and fading momentum across altcoins, LINK holders are watching closely. A failure to hold current support could trigger stronger selling pressure, while a successful push above $17.2 could pave the way for a stronger rebound. The coming days may be pivotal in determining whether Chainlink stabilizes or continues its downtrend.

Featured image from Dall-E, chart from TradingView 

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Sebastian Villafuerte
Sebastian Villafuerte

Sebastian Villafuerte

Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.

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To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian's goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.

To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.

Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance.

Sebastian's journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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