LINK in trouble: Whales' "market rescue" struggles against technical factors, $10.06 becomes the critical threshold

ChainLink (LINK) has now broken into a concerning zone. While large investors are actively accumulating, the technical pattern is flashing red lights. Even more dangerous is that once the $10.06 support level falls, the door opens—potentially signaling a much larger decline. At this market crossroads, investors are asking themselves: should they follow the smart money’s lead or preemptively avoid what could be a disaster?

Data update: 2026-02-13 11:15:29

Current LINK Status:

• Current Price: $8.44
• 24-hour Change: -1.45%
• All-Time High: $52.70
• All-Time Low: $0.15

Current Situation: Multiple Key Levels Lost, Risk Signals Abound

LINK’s recent performance can be described as a technical defeat. The critical support levels at $13 and $12.50 have been ruthlessly broken. The defense once provided in the $11.37–$11.64 range is collapsing. As these supports fall one after another, market participants are beginning to realize: $10.06 is no longer just a number, but the entire door—once it’s breached, the consequences could be dire.

At the current price of $8.44, LINK is approaching this critical “death line.” Historically, from its peak of $52.70 to now, the decline exceeds 84%, indicating how pessimistic market sentiment has become.

Whale Dynamics: Accumulation and Selling

An interesting phenomenon has emerged: whales are frequently buying below $14, and even more aggressively below $12. This behavior is often interpreted as “smart money bottom-fishing.” However, the reality may be more complex.

Whale’s true intentions:

• Their buying may not reflect long-term confidence in the project but rather short-term trading to buy low and sell high
• Without clear upward momentum, these whales might just be exploiting market volatility for profit
• In other words, their accumulation could be more about “eating others’ stop-loss orders” rather than genuinely saving the market

This suggests that even if whales are building positions, the main trend could still be downward. They might be preparing for further declines rather than preventing them.

Technical Warning Signs: Head and Shoulders Pattern Forming

On the daily chart, a clear head and shoulders (Vai-Đầu-Vai) pattern is gradually emerging. This is one of the most reliable reversal signals in technical analysis.

Key technical indicators:

• Fibonacci 50% retracement ($12.99–$13): already broken
• Fibonacci 61% retracement ($12–$12.50): already broken
• Neckline level: $10.06
• Theoretical downside target: $4.91

When a perfect head and shoulders pattern forms on the daily chart, it typically signals a severe decline. Worse, every Fibonacci support level that should provide support has been breached one after another.

The door is wide open: What does breaching $10.06 mean?

If the $10.06 support is broken, it means the door is fully open. Based on the head and shoulders pattern’s technical target, LINK could drop all the way to $4.91, or even around $5.

This is not alarmism but a reasonable projection based on historical data and technical patterns. From $8.44 to $5, it may seem like only a 40% drop, but in the current extremely weak market environment, such a decline is entirely within the realm of possibility.

The Bulls’ Last Lifeline

If you still believe in LINK, the key now is whether it can regain the $12.50 Fibonacci 61% level. This is the final test for the bulls to stay alive. Only by reclaiming this level can a further rebound be justified.

Honestly, given the current market sentiment, such a rebound seems quite unlikely.

Your Options: Follow the Trend or Hedge Risks

The market now presents investors with a binary choice: follow the whales’ accumulation actions, betting they can push the market higher; or, before the $10.06 door is breached, proactively hedge against risk.

Whales are buying, but the charts are selling. The outcome of this game may determine LINK’s fate over the coming months. Whatever your decision, ensure you are psychologically prepared for a potential 50% or more decline.

This article is for technical analysis and market observation only and does not constitute investment advice. Trading cryptocurrencies involves high risk; please trade cautiously.