54,470,000 LINK Bought at $16: Major Support Zone Forms

Recent data shows that Chainlink (LINK) has established strong buyer interest around the $16 ￰0￱ October 19, more than 54.47 million LINK were acquired, according to a cost basis heatmap shared by Ali ￰1￱ press time, LINK was trading at $18, with a 24-hour decline of 5% and a weekly loss of 3%. Daily trading volume stands at $1.05 billion. $16 Identified as Heavy Accumulation Range The cost basis heatmap highlights a dense concentration of wallet activity at $16. This level now marks a key reference zone on the ￰2￱ visual shows a strong horizontal cluster, which reflects a high number of tokens changing hands in that ￰3￱ accumulation suggests market participants see value at this level.

A large volume of tokens held here may reduce selling pressure, especially if prices return to that ￰4￱ Martinez described the area as a “ strong support zone ,” based on the size of the holdings. A separate chart from Ali shows a long-term triangle pattern with price squeezing between rising and falling ￰5￱ is currently positioned around the middle of the ￰6￱ analyst noted: “The next time Chainlink breaks $25, it could ignite a bull rally to $100.” Fibonacci projections on the chart show possible continuation levels at $32, $53, $74, and $99, if the price breaks out and holds above $25.) October 20, 2025 After peaking in 2021, LINK trended lower and found a base between $5 and $8 by late ￰7￱ then, the price has remained mostly stable, with recent moves pushing it back near $18.

On-Chain Activity Supports Local Strength Recent on-chain data from Santiment adds another ￰8￱ average 30-day returns for LINK holders fall below -5%, price has often recovered shortly ￰9￱ firm noted this level was reached again on Friday, suggesting renewed ￰10￱ this month, wallets holding between 100,000 and 1,000,000 LINK added 1.38 million tokens during a short ￰11￱ ongoing interest from larger holders adds weight to the current support zone.