Chainlink’s Bearish Setup Intensifies – LINK Bulls Eye Potential Rise to $15

Chainlink (LINK), currently experiencing bearish trends, has a significant support level at $15 that bulls might target if the market conditions change favorably. Onchain metrics, particularly the holder accumulation ratio, indicate strong bullish sentiment among holders, even following recent market downturns.

Key Takeaways

The potential drop towards $15 for Chainlink aligns with a key support level within a rising price channel.
The outcome will largely depend on Bitcoin and overall market sentiment; however, onchain metrics reveal considerable bullish confidence among holders.
Chainlink was already exhibiting bearish momentum prior to the market's decline on October 10th, with $22 acting as resistance after being previously tested as support in September.

Chainlink’s Bearish Setup Intensifies

Recent analysis from crypto expert Ali Martinez highlights a LINK price chart indicating that Chainlink may soon dip to $15, a significant level within the rising channel. This drop could potentially trigger a strong bullish response from traders.

Do Onchain Metrics Support the View of a Chainlink Rally?

Chainlink Exchange Reserves

There are initial signs supporting the possibility of a Chainlink resurgence. One primary indicator is the consistent decrease in LINK balances on exchanges, a trend that is not exclusive to Chainlink. Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are also experiencing similar declines in their exchange balances, reaching levels not observed in years. This trend suggests that tokens are being accumulated rather than sold, which is a bullish signal for the overall market.

Accumulation Spikes to New Heights

Chainlink Holder Accumulation Ratio

The Holder Accumulation Ratio has risen to an impressive 98.9%, indicating that almost all holders with changing balances are increasing their LINK investments. Such synchronized accumulation often precedes significant price increases, reflecting a strong market-wide inclination toward buying.

Martinez also anticipates that if the channel support at $15 remains intact and accumulation continues, Chainlink could potentially extend towards $46, suggesting notable upward movement in the future.

Chainlink Percent Supply Held by 1%

Furthermore, the percentage of Chainlink's total supply held by the top 1% of addresses has risen steadily, from about 73% in late 2024 to nearly 80% as of October 2025. This trend underscores the commitment of major holders to increase their stakes, even during the recent price correction that has been observed over the past six weeks.