TLDR
- Chainlink (LINK) price has stabilized around $14 after forming bullish chart patterns including a double-bottom and falling wedge pattern on daily charts.
- The Grayscale LINK ETF has attracted nearly $50 million in assets since launch, with inflows recorded every single day.
- A whale purchased 1.62 million LINK tokens worth $22 million from Binance and Kraken, bringing total holdings to 2.18 million tokens.
- Exchange supply of LINK has dropped from 264 million to 218 million tokens, while whale holdings increased from 1.73 million to 3.56 million tokens.
- Strategic LINK Reserves now hold 1 million tokens worth $14.7 million, accumulated through network fees since August 2025.
Chainlink price has stabilized around the $14 level as the broader crypto market rally faded this week. The token is showing signs of a potential rebound after forming several bullish technical patterns on the daily chart.
LINK formed a double-bottom pattern at $11.56 with a neckline at $13.50. This pattern is commonly viewed as a bullish reversal signal in technical analysis.
The token has also created a giant falling wedge pattern made up of two descending and converging trendlines. LINK has already broken above the upper side of this wedge pattern.
UPDATE#Link is making Bullish Falling Wedge and breakout has already done in 1D time frame ✅
Expecting an energetic move,
In this move we can see price
around 30.00$💸🚀#LINKUSDT pic.twitter.com/LwTAbcsJbu— ATradeSniper (@Asnipercrypto) December 3, 2025
The price is approaching the 50-day moving average and is close to moving above the Supertrend indicator. These technical signals suggest bulls could target the next resistance level at $20, representing a 45% increase from current levels.
A drop below the key support at $11.56 would invalidate the bullish outlook.
The Grayscale LINK ETF has seen consistent investor interest since its launch. Data from SoSoValue shows the fund recorded inflows every single day since going live.
Chainlink ETF saw 4 straight days of net inflows already since its launch. 🚀
Think the $LINK ETF will keep this momentum for a couple of weeks?? pic.twitter.com/CEfdzYfqbr
— Altcoin Buzz (@Altcoinbuzzio) December 6, 2025
The ETF now holds over $48 million in assets, bringing its total assets to more than $70.6 million. This represents 0.75% of LINK’s market capitalization.
For comparison, Bitcoin and Ethereum ETFs represent roughly 5% of their respective market caps. This suggests room for growth in the LINK ETF market.
Exchange Supply Drops as Whales Buy
Exchange supply of LINK tokens has declined over recent months. Data from Nansen shows the supply on exchanges now stands at 218 million tokens, down from a November high of 264 million.
A whale made a purchase of 1.62 million LINK tokens worth $22.01 million from Binance and Kraken. Two days prior, the same whale had bought 557,940 LINK tokens worth $8.03 million.
This whale now holds 2.18 million LINK tokens in total.
Whale holdings across the network have increased from 1.73 million tokens in November to 3.56 million tokens currently. CryptoQuant data shows Large Whale Orders occurred for 28 consecutive days since early November.
Exchange Netflow data turned negative, dropping to -151,000 tokens. Negative netflow indicates more tokens are being withdrawn from exchanges than deposited, a sign of accumulation.
Strategic Reserves Reach 1 Million Tokens
The Chainlink team launched Strategic LINK Reserves in August 2025. These reserves now hold 1 million tokens worth approximately $14.7 million.
The reserves are funded by fees generated from the Chainlink network. The team channels these fees into token purchases as part of the reserve program.
LINK traded at $13.63 at press time, down 4.15% on the daily charts. The token faced rejection at $14.90 earlier in the week.
Retail investors took profits during the recent price jump to $14.90. Data from Coinalyze shows LINK recorded negative Buy Sell Delta for three consecutive days.
Over this period, retail sellers offloaded 8.1 million in volume compared to 7.32 million in buy volume. This resulted in a Buy Sell Delta of -0.78 million.
The Stochastic RSI made a bearish crossover, dropping to 74. The positive index of the Directional Movement Index remained below its negative index at around 19.
If retail selling continues, LINK could find support around $12.70. If whale accumulation increases enough to overwhelm sellers, the token could clear $14 resistance and move toward $15 and $16.70.
