# Chainlink (LINK) Faces Institutional Selling Pressure, Drops Below Key Support Levels

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/investing/17041
Published: 2025-10-10T00:03:25.000Z
Updated: 2025-10-10T00:03:25.000Z
Section: Investing

> Chainlink’s native token, LINK, experienced heavy institutional selling over the past 24 hours, sliding to its lowest price in more than a week. The cryptocurrency fell by 4% to a session low of $21.30, marking an 8% …

Chainlink’s native token, LINK, experienced heavy institutional selling over the past 24 hours, sliding to its lowest price in more than a week. The cryptocurrency fell by 4% to a session low of $21.30, marking an 8% reversal from Monday’s local high, according to CoinDesk data. The downturn aligned with a broader crypto market correction, as the CoinDesk 20 Index also dipped around 4%, reflecting weakening investor sentiment across major digital assets.

Despite the sell-off, the Chainlink Reserve continued its steady accumulation strategy, purchasing 45,729 LINK tokens—valued at nearly $1 million—on Thursday. The reserve, which reinvests income from protocol integrations and services, now holds approximately $10 million in LINK. However, with the token’s price falling below its average cost basis of $22.44, the reserve currently finds itself in a slight unrealized loss position.

From a technical standpoint, bearish momentum has taken hold, as highlighted by CoinDesk Research’s market model. LINK’s trading range expanded to $1.05, signaling 5% intraday volatility between a low of $21.53 and a high of $22.68. Analysts identified resistance levels forming at $22.68—where the token reversed on heavy volume of nearly two million units—and a secondary barrier around $21.92. These levels could pose challenges for short-term bullish recovery unless market confidence strengthens.

While Chainlink continues to attract long-term interest due to its decentralized oracle network’s growing utility, short-term traders remain cautious amid heightened volatility and broader market weakness. LINK’s price movement in the coming days may depend on renewed market momentum or further institutional positioning.