Altcoin News: Chainlink Drops Below $14.50 as Selloff Deepens; Reserve Adds 74K LINK Despite Losses

Key PointsLINK slid from $15.26 to $14.41, its weakest level since late October.Volume surged 118% above average, confirming a clean break of ascending support.Chainlink Reserve accumulated 74,049 LINK, now holding 800K+ tokens at a ~27% unrealized loss.Losing the $14.40 support risks a move toward $14.20, while reclaiming $15.00–$15.26 is needed to reset momentum.Chainlink’s LINK token extended its decline on Thursday, falling nearly 5% over the past 24 hours and breaking below $14.50 as market-wide sell pressure overwhelmed buyers. LINK last traded around $14.41, marking its lowest price in more than two weeks.LINK dropped sharply from $15.26 to $14.73, then continued sliding as technical sellers accelerated the move, according to CoinDesk data. The token underperformed the broader CoinDesk 5 Index, which lost 3.7% over the same period.Volume Surge Confirms BreakdownTrading volume jumped to 3.32 million LINK, roughly 118% above the daily average, signaling aggressive institutional distribution and a clean rejection of the $15.00–$15.26 resistance band.A three-wave liquidation cascade between 17:05 and 17:41 UTC saw more than 360,000 LINK change hands in minutes, driving price down to fresh intraday lows near $14.40. Technical models flagged the move as a confirmed break below ascending trendline support — the most bearish structure for LINK in November.Chainlink Reserve Keeps Buying Despite DrawdownDespite the pullback, on-chain data shows continued accumulation from the Chainlink Reserve.+74,049 LINK purchased ThursdayTotal holdings now exceed 800,000 LINKAverage cost basis: ~$20Unrealized loss: ~27%The Reserve has now absorbed nearly all November dips, though its drawdown continues to widen as LINK trades further below its long-term cost basis.Key Levels to WatchSupport$14.40–$14.50 (immediate support)A breakdown below this range exposes $14.20 as the next target.Resistance$15.00 (short-term reclaim required)$15.26 (major resistance and previous rejection level)Volume OutlookThe 118% surge confirms institutional-driven sell pressure, reducing the probability of immediate recovery unless broader market conditions stabilize.