Chainlink (LINK) is currently facing significant pressure, losing over 33% of its worth since reaching local peaks in May. The mix of intensifying Middle East conflicts and increasing macroeconomic uncertainty—driven by rising US Treasury yields and a cautious Federal Reserve—has dimmed investor confidence across crypto markets. In this climate, bulls have surrendered control of LINK’s trend, with the price now in search of a sturdy support foundation.
Compounding the pressure, recent on-chain information from Lookonchain indicates that noncirculating supply wallets related to Chainlink deposited 17.875 million LINK—approximately valued at $149 million—into Binance earlier today. This substantial inflow to a centralized exchange raises apprehensions regarding possible selling actions and has further dampened market sentiment. Traditionally, Chainlink’s unlocks have frequently sparked volatile price movements. While some of these occurrences have led to price surges, the current market conditions create uncertainty around any bullish responses.
The market is now attentively observing how LINK will react near essential support levels as the token contends with both technical frailty and a challenging macro situation. Whether accumulation resumes or bearish pressure escalates will depend on how global risk appetite and on-chain activity develop in the coming days.
Chainlink Confronts Critical Support Evaluation Amid Market Strain
Chainlink continues to strengthen its foundation through significant partnerships and consistent development, despite global tensions and macroeconomic instability weighing heavily on altcoin markets. With an increasing adoption across traditional finance and Web3 infrastructure, LINK’s long-term prospects remain strong. However, short-term price movements depict a different narrative. Since its peak in May, Chainlink has experienced a severe pullback, currently down over 33%, necessitating the defense of present levels to avert triggering a more profound correction.
In light of rising Middle East conflicts and tightening financial conditions, most altcoins have declined in comparison to Bitcoin, and LINK has not been an exception. Bitcoin’s dominance recently reached new heights, drawing capital away from smaller-cap assets. Consequently, Chainlink bulls are under pressure to safeguard key support levels and prevent further degradation of momentum.
Adding to investor unease, Lookonchain data shows that Chainlink non-circulating supply wallets moved 17.875 million LINK—estimated at about $149 million—to Binance earlier today. These transactions raise concerns of potential selling pressure. However, historical information offers some hope. Chainlink has executed 11 significant unlocks in the past, and many were succeeded by price increases as liquidity was absorbed and demand rebounded.
LINK Price Review: Breakdown Expands As Support Levels Fall
Chainlink (LINK) is presently trading around $11.98 after falling below crucial support areas that had previously held throughout Q2 2025. The daily chart distinctly illustrates a continued downtrend since mid-May, characterized by a series of lower highs and lower lows. LINK has now dropped over 33% since its May apex near $18, with the latest candle affirming a clear breakdown beneath the $12 psychological threshold.
The 50-day, 100-day, and 200-day simple moving averages (SMAs) are all positioned above the current price, indicating robust bearish momentum. The 50-day SMA has recently crossed below the 100-day SMA, fortifying short-term weaknesses. Moreover, LINK is now trading at levels not observed since early November 2024, exposing the asset to additional downside risks if no strong demand appears shortly.
This technical decline coincides with Lookonchain data revealing that 17.875 million LINK (worth $149M) from noncirculating wallets was deposited into Binance—stirring worries of further selling pressure. While historically, numerous unlock events were succeeded by recoveries, the prevailing macroeconomic climate, together with Bitcoin dominance surging and altcoins underperforming, may postpone any rebound.
Featured image from Dall-E, chart from TradingView
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