9% Drop Amid Crypto Selloff Despite Calibers $2M Purchase

The native token of oracle network Chainlink fell sharply on Friday, dropping nearly 9% to $16.46, its weakest price since last Fridays crypto crash.

The pullback occurred amid concentrated selling pressure, particularly between 6:00 and 8:00 AM ET on Friday, CoinDesk Researchs analytics model noted. A brief recovery late in the session saw LINK modestly up 0.4% in the final hour, but not enough to offset earlier losses.

Despite the steep decline, corporate interest in LINK appeared to be steady. Caliber Corporation (CWD), a Nasdaq-listed real estate investment firm, disclosed a $2 million LINK acquisition on Thursday. The purchase brought Calibers total LINK tally to 562,535, worth about $9.2 million at current prices.

Meanwhile, the Chainlink Reserve added another 59,969 LINK to its holdings, bringing its holdings to 523,159 tokens. However, with an average cost basis of $21.98, the reserve remains deeply underwater, down over 34% from its entry point.

On the tech front, Chainlink advanced its product roadmap with the launch of Data Streams on MegaETH, a high-speed blockchain optimized for real-time applications. The integration allows smart contracts to access live market data with sub-second latency, supporting DeFi use cases like perpetual swaps trading and stablecoins with centralized exchange-level speed.

Technical Analysis Breakdown:

• Chainlink experienced a significant sell-off, falling from $18.07 to $16.46, representing a substantial 9% selloff with an overall trading range of $2.25.
• Critical institutional support emerged at the $15.72-$15.82 zone with strong volume confirmation, while resistance formed at $17.43 with multiple rejections throughout the trading session.
• LINK established new support level around $16.30-$16.35 as potential re-entry strategies.