Examining Chainlink’s breakdown: What the $15.44 breach signals next

ambcryptoPublished on 2025-11-16Last updated on 2025-11-17

Key Takeaways

Why is Chainlink suffering on the price charts?

The persistent selling pressure refused to ease despite onchain accumulation and TradFi partnerships, cementing seller dominance.

What is the significance of the $15.44 support?

It was a recent weekly swing level and a support, and was breached after the previous week’s trading session closed below it, at $13.4.

Chainlink [LINK] saw a 100% increase in daily trading volume at the time of writing. On Monday, the 17th of November, LINK was up 2.91% from the day’s open at $14.13.

Contextually speaking,Bitcoin [BTC] was also modestly up by 1.95%, but neither move came amidst a bullish backdrop.

In a recent report, AMBCrypto covered why the price action was bearish even though onchain metrics showed accumulation. It was revealed that Chainlink price bounces in the short term would be dominated by sellers.

The $15.45 support has been lost to the bears. This meant the weekly structure was now bearish. Additionally, a long-term trend support was also ceded. What should traders and investors expect next?

Chainlink bears firmly in control, but watch out for THIS!

Chainlink 1-week ChartChainlink 1-week Chart

Source: LINK/USDT on TradingView

The rally from $10.94 to $27.87 earlier this year provided clear Fibonacci retracement levels. Those levels aligned with weekly swing zones, including $15.44, which acted as another key support.

The previous week’s session close at $13.73 meant that LINK had fallen below two key long-term supports, namely, $15.44 and $14.56. The latter was an important Fibonacci retracement level that bulls were unable to defend.

The OBV showed that selling pressure has been steady in recent months, and a bullish comeback was nowhere in sight.

Short-term bounces still risk rejection

Chainlink 1-day ChartChainlink 1-day Chart

Source: LINK/USDT on TradingView

The daily chart outlined a firmly bearish structure. A bearish order block sat between $15 and $16.6, forming a supply zone likely to trigger selling if retested.

To the south, the next price targets were $12.7, a support level from July, and $10.94, the weekly swing low.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Next: Japan’s Bitcoin reform: A 20% tax era is coming, but will it spark ETF momentum?
Share

Trending Cryptos

ctr
CitreaCTR
wstusdt
wrapped stUSDTWSTUSDT
apr
CapricornAPR
ctx
Cryptex FinanceCTX
audio
AudiusAUDIO
comp
CompoundCOMP
mantra
MantraMANTRA
waxl
AxelarWAXL
bill
Billions NetworkBILL
pyth
PYTH (Pyth)PYTH
rune
THORChainRUNE
brev
BrevisBREV
cake
PancakeSwapCAKE
dos
DAPPOSDOS
jst
JUSTJST

Related Reads

MoonRush Launches Social Trading App Combining On-Chain Market Discovery and AI-Powered Risk Protection

MoonRush has launched a mobile social trading app for crypto markets, integrating on-chain token discovery with AI-powered risk protection. The platform allows users to explore trending tokens, track traders and public wallet activity, and access market data across multiple blockchains including Solana, Base, BNB Chain, and Robinhood. Unlike purely social-first platforms, MoonRush combines a market discovery experience with a social layer, providing context around wallet movements and social signals. Its AI system identifies potentially high-risk tokens, displaying warnings or disabling buy functions, but leaves final trading decisions to the user. Designed for mobile, the app consolidates discovery, research, and multi-chain trading into a single non-custodial experience, aiming to help traders make more informed decisions.

TheNewsCrypto1h ago

MoonRush Launches Social Trading App Combining On-Chain Market Discovery and AI-Powered Risk Protection

TheNewsCrypto1h ago

Upbit is Anxious: A Hasty Counterattack Aimed at Regaining Stablecoin Market Share

Title: Upbit's Rushed Counterattack to Reclaim Stablecoin Market Share Facing a dramatic shift in South Korea's stablecoin market, leading exchange Upbit launched a promotional campaign from July 26 to August 9, waiving the 0.05% trading fee for stablecoins paired with the Korean Won (KRW) and rapidly listing new stablecoins like RLUSD and USDG. This move is a direct response to its plummeting market share in this sector. Historically a duopoly with Bithumb, the market has been reshaped since October 2025 when Coinone permanently removed fees for USDC trading. By June 2026, Coinone led with 34.8% of stablecoin volume, followed by Bithumb (31.1%) and Upbit (30.1%). This contrasts sharply with the overall crypto market, where Upbit commands 60%. The data shows stablecoin demand is highly sensitive to fees, as users primarily buy them to transfer capital overseas for derivatives trading or forex arbitrage. South Korean exchanges have seen a net outflow of stablecoins for 18 consecutive months, totaling approximately 14.9 trillion KRW, underscoring their role as a cross-border capital conduit. Upbit's limited-time promotion initially boosted its daily stablecoin volume by 162%, but the surge was almost entirely in USDT (98.1% of volume). The newly listed stablecoins saw negligible, fleeting interest. Furthermore, the promotional effect quickly waned in the second week, with volume dropping 33% on weekdays. A concurrent weakening of the KRW also contributed to the trading spike, independent of the fee waiver. The analysis suggests that once the promotion ends, Upbit is unlikely to retain its temporary gains unless it matches Coinone's permanent zero-fee policy, forcing a choice between market share and fee revenue. Upbit's strategic push may be less about immediate profit and more about preparing for future regulatory shifts. With South Korea's *Digital Asset Basic Act* on the horizon, which will regulate KRW-backed stablecoins, and following Dunamu's (Upbit's parent) integration into Naver Financial to build a payment ecosystem, securing a dominant position in the dollar stablecoin distribution channel holds long-term strategic value. However, potential regulatory conflicts could prevent Upbit from listing a future Naver-issued KRW stablecoin, making the current fight for dollar stablecoin flow even more critical.

marsbit7h ago

Upbit is Anxious: A Hasty Counterattack Aimed at Regaining Stablecoin Market Share

marsbit7h ago

Ethereum devs to narrow 66 proposals tied to Hegotá upgrade

Ethereum developers are reviewing 66 proposals to define the scope of the next major network upgrade, Hegotá, with a focus on enhancing protocol-level privacy. Currently, only the FOCIL (Fork-choice enforced inclusion lists) EIP is confirmed for inclusion. Additional proposals like Frame Transactions (EIP-8141), Keyed Nonces (EIP-8250), and Recent Roots for Frame Transactions (EIP-8272) are also targeted for Hegotá to enable native privacy features for applications. FOCIL aims to improve censorship resistance, while the privacy-focused EIPs would provide foundational tools for private transactions. Developers aim to release Hegotá next year, with upcoming core developer calls being crucial for shaping Ethereum's 2027 roadmap. Proposals not selected may be considered for future upgrades. Prior to Hegotá, the network will first deploy the Glamsterdam upgrade in the second half of 2026, which is designed to improve scalability, security, and usability.

cointelegraph7h ago

Ethereum devs to narrow 66 proposals tied to Hegotá upgrade

cointelegraph7h ago

The Nasdaq is Now Trading for 23 Hours a Day. Whose Business Is It Taking?

NASDAQ plans to launch 23-hour, five-day-a-week stock trading starting December 6, 2026, pending final infrastructure readiness. The new overnight session, from 9 PM to 4 AM ET, directly targets Asian investors by aligning with their daytime hours. The move is fundamentally an order flow battle. Nasdaq aims to recapture trades from after-hours platforms, broker internal systems, and rival exchanges. Data shows overnight trading is concentrated in a few broad market ETFs (like SPY, QQQ) and mega-cap stocks (like Tesla, Nvidia), focused on risk management rather than stock-picking. While offering faster price discovery, extended hours raise systemic costs, may widen bid-ask spreads due to lower liquidity, and shift pricing power. The trend highlights the growing centrality of US markets for global asset pricing, even for non-US assets via ETFs. For markets like Hong Kong, the priority is enhancing asset quality and connectivity rather than merely extending hours. Ultimately, extended trading is an amplifier; what matters is which market defines the next global price.

marsbit7h ago

The Nasdaq is Now Trading for 23 Hours a Day. Whose Business Is It Taking?

marsbit7h ago

Berkshire Hathaway's Q2 13F Portfolio Reshuffle: Increased Stakes in Google and Delta Air Lines, Consecutive Quarter of Cutting Bank of America

Berkshire Hathaway's second-quarter 13F filing, released August 14th, reveals significant portfolio shifts under new leadership. The total portfolio value rose to approximately $299.3 billion. Key highlights include a major increase in Alphabet (Google) holdings. Berkshire's stake in Google-A surged 45.24% to $28.16 billion, while its Google-C holdings jumped 658% to $9.61 billion, making Alphabet the firm's third-largest combined holding after Apple and American Express. Conversely, Bank of America was the largest reduction, with shares cut by 5.89% for the second consecutive quarter, though it remains the fifth-largest holding. Berkshire also increased positions in Delta Air Lines (up 44%) and homebuilder Lennar, while initiating a small new position in D.R. Horton. The consumer sector saw Constellation Brands completely sold off. Overall, the portfolio reflects a continued move toward technology and specific cyclical sectors like housing and airlines, while trimming some financial and consumer stakes. Apple remains the top holding at 22% of the portfolio.

marsbit7h ago

Berkshire Hathaway's Q2 13F Portfolio Reshuffle: Increased Stakes in Google and Delta Air Lines, Consecutive Quarter of Cutting Bank of America

marsbit7h ago

Trading

Spot

Hot Articles

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of S (S) are presented below.

活动图片

Top Questions

Hot Categoriesright-arrow

Hot Tagsright-arrow