Chainlink (LINK) slid under mounting bearish pressure after on-chain metrics flashed warning signs this week. Dormant circulation, tokens unmoved for at least 180 days, surged sharply, as long-idle LINK wallets offloaded positions near the $15.50 resistance zone. Simultaneously, Mean Coin Age (MCA), which tracks the average holding time of circulating coins, plunged, signaling that veteran holders are capitulating rather than doubling down.
Not in the slightest. The team is already waiting to dump into fresh liquidity. Until the dumps stop im bearish. This could take several years
— Facts are not FUD(Chainlink dumps $1.4 billion PA) (@SNequalsSN) May 22, 2025
Together, these shifts suggest a growing lack of conviction among long-term investors, who appear unwilling to defend recent gains. With supply from sleeping hands reentering the market just as LINK struggles to reclaim its footing above key technical thresholds, downside risks have heightened. Traders may now face increased volatility and potential pullbacks toward lower support levels near $13.00–$14.00 until on-chain selling momentum eases and MCA stabilizes.
Key Chainlink Levels To Watch – May 20
LINKUSD is trading below the $16.10 moving average, indicating weakening bullish momentum. Price is set to break the ascending trendline, suggesting a potential continuation downward.
A successful invalidation of the trendline through the order block may lead to a more notable crash to $10.10 support. RSI is cooling off near 60, showing fading strength and room for downward movement.
LINK Key Levels
Resistance Levels: $17.60, $22.10, $26.00
Support Levels: $10.10, $8.10, $6.00
LINK METRICS
Total Market Capitalization: $3.48T
Chainlink Market Capitalization: $10.67B
Chainlink Volume: $751.93B
Market Rank: #12
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