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Chainlink (LINK) Holds Firm at $16 Support Level Amid Market Turbulence

Chainlink (LINK) Holds Firm at $16 Support Level Amid Market Turbulence

Author:

Global Cryptocurrency

Published:

2025-10-21 22:08:06

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Chainlink LINK News -

Chainlink (LINK) has established a key support level at $16, with over 54.47 million tokens purchased at this price on October 19. A cost basis heatmap from analyst Ali Martinez highlights strong buyer interest, indicating potential resilience against downward trends. Currently, LINK is trading at $18, showing a 5% daily drop and a 3% weekly decline, with daily volume steady at $1.05 billion.

The $16 level has become a critical focus for traders, with dense wallet activity signaling long-term confidence. Martinez describes this as a "strong support zone" and suggests that breaking above $25 could trigger a rally toward $100, based on Fibonacci projections. A symmetrical triangle pattern on longer timeframes further points to significant potential price movement.

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