**Chainlink’s Price Shows Strong Support and Potential for Recovery**
Chainlink’s price is demonstrating impressive resilience, with solid support levels at $14.8 and $16, hinting at a possible rebound despite some short-term bearish signals. The negative Market Value to Realized Value (MVRV) ratio and an oversold Relative Strength Index (RSI) suggest that Chainlink could be on the verge of a price recovery, following its historical trend of strong rallies. The price of Chainlink (LINK) has seen significant volatility, capturing the attention of traders and analysts alike. Even amid a bearish trend in the broader crypto market, LINK has remained robust, hovering around the $15 mark. As of this writing, Chainlink (LINK) is trading at $15.32, reflecting a 0.79% increase over the past 24 hours. The market capitalization is currently at $9.77 billion, with a 24-hour trading volume of $651.33 million, showcasing a 32.12% uptick in trading activity. Source: CoinMarketCap.
Adding to this positive sentiment, data from Glassnode has provided insights into LINK’s accumulation patterns, highlighting specific price levels where significant holdings exist. Notably, around the $16 mark, 16 million LINK were purchased, while at $14.8, 53 million tokens remain intact despite recent price declines. These levels indicate that long-term holders are maintaining their positions, reflecting confidence in the asset’s future potential. According to Glassnode, the absence of new allocations at these levels suggests a strong foundation for Chainlink, which could facilitate a price rebound. Chainlink (LINK) has experienced various accumulation and distribution phases over the past three years. By examining the Cost Basis Distribution metric, we can identify key cost basis clusters, evaluate market resilience, and monitor investor positioning: https://t.co/CJzzUuU4tp pic.twitter.com/DusdTbacz4 — glassnode (@glassnode) February 26, 2025.
Moreover, IntoTheBlock’s On-Chain data indicates support in the $14.40-$16.93 range, where approximately 157 million LINK tokens were acquired. Traders who entered this zone are likely to hold their positions, which could help shield against further price declines. Source: IntoTheBlock. The resistance level for LINK is identified in the $18.27-$19.88 range, where 43,000 traders collectively hold 70 million LINK. A breakthrough above these levels could trigger a significant price surge.
Another factor fueling optimism around LINK’s price is its MVRV ratio, which has recently turned negative—a trend that historically precedes price recoveries. Source: X. According to a report from ETHNews, the MVRV ratio currently sits at -16.3%, indicating that most LINK traders are experiencing losses. Historical data shows that when the MVRV ratio dips below -16%, LINK has often rebounded strongly, with past rallies exceeding 300%. This shift into negative territory could signal an upward movement for Chainlink’s price, potentially surpassing the $16 resistance level.
Beyond technical indicators, Chainlink plays a crucial role in the decentralized finance (DeFi) ecosystem, further solidifying its importance in the crypto landscape.
