Recent data shows that Chainlink (LINK) has established strong buyer interest around the $16 level. On October 19, more than 54.47 million LINK were acquired, according to a cost basis heatmap shared by Ali Martinez.<\/p>\n
At press time, LINK was trading at $18, with a 24-hour decline of 5% and a weekly loss of 3%. Daily trading volume stands at $1.05 billion.<\/p>\n
The cost basis heatmap highlights a dense concentration of wallet activity at $16. This level now marks a key reference zone on the chart. The visual shows a strong horizontal cluster, which reflects a high number of tokens changing hands in that range.<\/p>\n
The accumulation suggests market participants see value at this level. A large volume of tokens held here may reduce selling pressure, especially if prices return to that zone. Ali Martinez described<\/a> the area as a \u201cstrong support zone<\/em>,\u201d based on the size of the holdings.<\/p>\n A separate chart from Ali shows<\/a> a long-term triangle pattern with price squeezing between rising and falling trendlines. LINK is currently positioned around the middle of the formation.<\/p>\n The analyst noted:<\/p>\n \u201cThe next time Chainlink breaks $25, it could ignite a bull rally to $100.\u201d<\/p>\n Fibonacci projections on the chart show possible continuation levels at $32, $53, $74, and $99, if the price breaks out and holds above $25.<\/p>\n <\/a>Source: Ali Martinez\/X<\/p>\n Past market behavior shows how LINK responded to major downturns. In March 2020, during the COVID-19 crash, LINK dropped 80% in one day. Over the next 15 months, it gained more than 3,700%, reaching above $50. This data was shared by Micha\u00ebl van de Poppe, who noted how sharp declines can become recovery zones.<\/p>\n The COVID-19 crash was the lowest point in the previous cycle for many #Altcoins<\/a>.$LINK<\/a> went down 80% in a single night.<\/p>\n It did make a 3,700% since then in 15 months.<\/p>\n In hindsight, the largest crashes are the best financial opportunities. pic.twitter.com\/eMb9AExWy9<\/a><\/p>\n \u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) October 20, 2025<\/a><\/p>\n\n After peaking in 2021, LINK trended lower and found a base between $5 and $8 by late 2022. Since then, the price has remained mostly stable, with recent moves pushing it back near $18.<\/p>\n Recent on-chain data from Santiment adds another view<\/a>. When average 30-day returns for LINK holders fall below -5%, price has often recovered shortly after. The firm noted this level was reached again on Friday, suggesting renewed accumulation.<\/p>\n Earlier this month, wallets holding between 100,000 and 1,000,000 LINK added<\/a> 1.38 million tokens during a short pullback. The ongoing interest from larger holders adds weight to the current support zone.<\/p>\n The post 54,470,000 LINK Bought at $16: Major Support Zone Forms<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Recent data shows that Chainlink (LINK) has established strong buyer interest around the $16 level. On October 19, more than 54.47 million LINK were acquired, according to a cost basis heatmap shared by Ali Martinez. At press time, LINK was trading at $18, with a 24-hour decline of 5% and a weekly loss of 3%. […]<\/p>\n","protected":false},"author":0,"featured_media":106603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-106602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/106602"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=106602"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/106602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/106603"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=106602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=106602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=106602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Historical Price Action and Market Response<\/h2>\n
On-Chain Activity Supports Local Strength<\/h2>\n
![<\/a>Source: Ali Martinez\/X<\/p>\nHistorical Price Action and Market Response<\/h2>\nPast market behavior shows how LINK responded to major downturns. In March 2020, during the COVID-19 crash, LINK dropped 80% in one day. Over the next 15 months, it gained more than 3,700%, reaching above $50. This data was shared by Micha\u00ebl van de Poppe, who noted how sharp declines can become recovery zones.<\/p>\nThe COVID-19 crash was the lowest point in the previous cycle for many #Altcoins<\/a>.$LINK<\/a> went down 80% in a single night.<\/p>\nIt did make a 3,700% since then in 15 months.<\/p>\nIn hindsight, the largest crashes are the best financial opportunities. pic.twitter.com\/eMb9AExWy9<\/a><\/p>\n\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) October 20, 2025<\/a><\/p>\n\nAfter peaking in 2021, LINK trended lower and found a base between $5 and $8 by late 2022. Since then, the price has remained mostly stable, with recent moves pushing it back near $18.<\/p>\nOn-Chain Activity Supports Local Strength<\/h2>\nRecent on-chain data from Santiment adds another view<\/a>. When average 30-day returns for LINK holders fall below -5%, price has often recovered shortly after. The firm noted this level was reached again on Friday, suggesting renewed accumulation.<\/p>\nEarlier this month, wallets holding between 100,000 and 1,000,000 LINK added<\/a> 1.38 million tokens during a short pullback. The ongoing interest from larger holders adds weight to the current support zone.<\/p>\nThe post 54,470,000 LINK Bought at $16: Major Support Zone Forms<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Recent data shows that Chainlink (LINK) has established strong buyer interest around the $16 level. On October 19, more than 54.47 million LINK were acquired, according to a cost basis heatmap shared by Ali Martinez. At press time, LINK was trading at $18, with a 24-hour decline of 5% and a weekly loss of 3%. […]<\/p>\n","protected":false},"author":0,"featured_media":106603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-106602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/106602"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=106602"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/106602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/106603"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=106602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=106602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=106602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/10\/G3sn_c9XsAA4P6j.jpeg\"){kind=link}