Oracle Network Chainlink’s native token It fell sharply on Friday, dropping nearly 9% to $16.46, its weakest price since last Friday’s crypto crash.
The pullback occurred amid concentrated selling pressure, especially between 6:00 and 8:00 ET on Friday, Coindesk Research’s analytics model noted. A brief recovery late in the session saw the link moderate up 0.4% in the final hour, but not enough to offset earlier losses.
Despite the steep decline, corporate interest in the link appears to be robust. Caliber Corporation (CWD), a NASDAQ-listed real estate firm, disclosed A $ 2 million link linking on Thursday. The purchase brought the caliber link’s total to 562,535, worth nearly $9.2 million at current prices.
Meanwhile, ChainLink Reserve added another 59,969 links to its holdings, bringing its holdings to 523,159 tokens. However, with an average cost basis of $21.98, the reserve remains deep underwater, down more than 34% from its entry point.
On the tech front, chainlink Advanced Its product roadmap to launch data streams on Megaeth, a high-speed blockchain optimized for real-time applications. The integration allows smart contracts to access live market data with sub-second latency, supporting defi use cases such as Perpetual Swaps Trading and StableCoins with centralized exchange rate speed.
Technical Analysis Breakdown:
- Chainlink experienced a significant sell-off, falling from $18.07 to $16.46, representing a huge 9% sell-off with an overall trading range of $2.25.
- Critical institutional support emerged in the $15.72-$15.82 zone with strong volume confirmation, while resistance was formed at $17.43 with multiple declines throughout the trading session.
- The link established a new support level around $16.30-$16.35 as potential re-entry strategies.
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