LINK Drops 4% as Chainlink ETF News Fails to Push Break of Technical Resistance

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email LINK Drops 4% as Chainlink ETF News Fails to Push Break of Technical Resistance The oracle token encountered selling pressure at $16.25 alongside a sizable decline in the broader crypto market. By CD Analytics , Krisztian Sandor | Edited by Stephen Alpher Nov 12, 2025, 7:28 p.m. "Chainlink falls 2% to $15.28, struggling to surpass $16.25 resistance amid Bitwise ETF news." What to know : LINK fell to just above $15 amid technical overhead supply. Trading volume spiked 138% during $16.25 rejection confirming resistance strength. The weak price action occurred despite Bitwise's Chainlink ETF (CLNK) appeared on the DTCC registry, a sign that it might start trading soon. Chainlink’s LINK token fell 4% on Wednesday after running into strong technical resistance amid broader crypto market weakness. The pullback came as Bitwise’s proposed Chainlink ETF was spotted on the DTCC registr y under the ticker CLNK, signaling operational readiness for a potential launch. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . The development initially sent LINK higher, testing resistance near $16.25, CoinDesk research's technical analysis model said. But the move triggered aggressive selling, with 3.36 million tokens traded during the 16:00 UTC hour, 138% above the 24-hour average, sending LINK down to a session low of $15.10, according to CoinDesk data. While the DTCC listing represents a step forward for the ETF process, it doesn’t guarantee SEC approval. Market participants largely treated the listing as a procedural milestone rather than a bullish catalyst, keeping their focus on chart levels. The $16.15–$16.25 zone proved too strong to break, reinforcing it as a key overhead supply region. Key technical levels signal range-bound action Support/Resistance: Primary support locked at $15.10 from institutional selling wave, with immediate resistance at $15.40-$15.50 based on recovery channel dynamics Volume Analysis: 24-hour activity runs 9.39% above weekly average, with 3.36M share spike during $16.25 breakdown confirming heavy overhead supply at resistance Chart Patterns: Ascending channel formation from overnight lows encounters resistance ceiling, with current action suggesting continued range-trading between $15.10-$16.25 boundaries Targets & Risk/Reward: Upside targets sit at $15.50 and $16.00 levels, with downside risk toward $15.00 psychological support if recovery momentum stalls. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. AI Market Insights Chainlink More For You OwlTing: Stablecoin Infrastructure for the Future By CoinDesk Research Oct 16, 2025 Commissioned by OwlTing Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent. View Full Report More For You Solana Drops 4.9% Breaking Below Key Support as Alameda Unlocks Continue By CD Analytics , Siamak Masnavi 1 hour ago Institutional inflows of $336 million fail to offset selling pressure as SOL falls to $153 amid fresh token releases. What to know : SOL dropped 4.9% to $153.49 despite recording $336 million in weekly ETF inflows. Alameda Research unlocked another 193,000 SOL tokens valued at approximately $30 million. Technical breakdown below $156 support accelerates selling toward $152.80 demand zone. Read full story Latest Crypto News Dubai Court Freezes $456M Linked to Justin Sun’s Bailout of TrueUSD Issuer Techteryx 9 minutes ago Solana Drops 4.9% Breaking Below Key Support as Alameda Unlocks Continue 1 hour ago Bitcoin Plunges Below $102K Amid Weak U.S. Demand, Fed Divided on December Cut 1 hour ago Stellar's XLM Trades in Tight Range as Traders Exhibit Uncertainty 1 hour ago HBAR Drops 0.6% to $0.18 Amid Indecisive Trading Session 2 hours ago BONK Falls 5% to $0.00001223 After Rejection at Key Resistance 2 hours ago Top Stories Bitcoin Plunges Below $102K Amid Weak U.S. Demand, Fed Divided on December Cut 1 hour ago U.S. SEC Chief Atkins Says Clarity Coming on Crypto Tied to Investment Contracts 3 hours ago New Strike Force Set to Target Overseas 'Pig Butchering' as U.S. Hits Burma Operation 2 hours ago Sui Launches Native Stablecoin USDsui Using Bridge’s Open Issuance Platform 2 hours ago Key Bitcoin Capitulation Metric Points to Bottoming in Price 6 hours ago Crypto Markets Today: Privacy Tokens Shine, Majors Stall as Market Consolidates 8 hours ago