A major investor purchased more than 80,000 Chainlink (LINK) tokens worth $1.02 million, according to AMBCrypto. The whale accumulated the tokens through CoWSwap, adding to improving large-holder activity despite broader market uncertainty. The wallet’s broader crypto portfolio approached $3 million and also included stablecoin holdings.
Whale vs Retail Delta Recovers
Chainlink’s Whale vs Retail Delta indicator registered a notable recovery, strengthening evidence of stronger large-holder participation. According to CoinGlass, the metric climbed to 0.594 on October 22, following an earlier decline toward the 0.10 levels. This recovery suggested stronger whale activity relative to retail traders, reflecting a shift from the previous weakening trend.
The metric remained predominantly positive throughout much of 2026, despite several periods of declining activity. The latest increase brought whale participation closer to levels that previously accompanied accumulation phases. However, although large holders reinforced their relative presence, broader trading indicators continued to reflect persistent selling pressure.
Spot and Futures Sellers Maintain Control
Despite improving whale participation and accumulation, both Chainlink’s spot and derivatives markets continued to highlight aggressive selling activity. The Spot Taker CVD indicator remained seller-dominant, suggesting that market sell orders outweighed aggressive buying activity. The Futures Taker CVD similarly preserved its seller-dominant reading, highlighting comparable pressure among leveraged market participants.
These indicators highlighted a divergence between the whale’s accumulation and broader trading behavior. The continued selling imbalance implied that large purchases had not yet reversed prevailing market conditions. The futures reading also suggested that derivatives participants had yet to establish persistent aggressive buying demand. Therefore, Chainlink’s recovery prospects depended partly on whether broader market players would eventually follow the accumulation trend.
Price Structure and Indicators
Chainlink’s weekly recovery from the $8 support area faced resistance at $14.218, which triggered a pullback toward $12. Bulls subsequently defended the $12 region, allowing LINK to stay above its recent recovery base.
The weekly MACD maintained a bullish bias, with its line at 0.800 above the signal line at 0.433. However, the positive histogram eased to 0.367, suggesting weakening buying strength. The RSI slipped to 54.79, slightly below its moving average of 55.43, but remained above neutral territory.
Overall, LINK retained a potential recovery opportunity, even though weakening indicators suggested caution. Maintaining the $12 support and a sustained breakout above the $14.218 resistance could open the path toward the $18 zone, where stronger resistance previously emerged.
