Weekly Structure Shows Rising Channel Support
Chainlink maintains support at $13 while traders monitor the long-term rising channel for renewed upside potential. Market data shows stronger liquidity and steady recovery as LINK moves back above $14 after recent volatility. A wallet tied to Jez San moved over $15M in altcoins off Coinbase Prime, including $8M in LINK. Chainlink trades within a stable weekly structure as the asset defends its long-term support zone near $13 and broader market liquidity improves. Recent price action, exchange data, and whale activity contribute to a developing trend watched closely by traders.
Chainlink sits on a long-standing weekly support line near $13, according to a chart shared by Bitcoinsensus. The level forms the lower area of a multi-year rising channel that has guided the asset since 2023. The support has held through repeated cycles of compression and expansion.
The chart displays recurring accumulation phases followed by upward surges. Earlier periods produced gains of over 130%, carrying LINK toward peaks of $23 and $31. Each advance formed after prolonged consolidation, signaling steady interest around the lower boundary of the channel.
The projected upper channel level near $46 aligns with the next potential target if LINK retains its position above support. The chart suggests the asset may attempt a step-based advance through mid-range zones before reaching the upper boundary. Market activity would need to stay supportive for such a move to follow historical patterns.
Short-Term Market Data Shows Renewed Strength
LINK as of writing trading at $14.46 after a 7.3% weekly gain. The rebound followed a move to the $11–$12 area early in the week. Buyers regained control, forming a rounded recovery that restored price above the midpoint of the recent range.
Trading volume reached $856M over 24 hours, reflecting strong participation during the bounce. The increase in activity occurred through both the decline and the recovery, indicating steady liquidity across the range. Market cap stands near $10.08B, with a fully diluted valuation of $14.46B.
A mid-week reading displayed a price of $13.43 with volume above $542M. The sustained move above that level signals a shift from corrective action toward renewed accumulation. The circulating supply of about 696M LINK continues to support stable distribution dynamics.
Whale Withdrawals Add Context to Market Positioning
On-chain records show over $15M in altcoins moving off Coinbase Prime from a wallet linked to Jez San (@aerobatic). The activity included $8M in LINK, $5M in AAVE, $2M in UNI, and $250K in LDO. The withdrawals occurred within minutes.
Movements from Coinbase Prime are typically associated with long-term positioning rather than short-term trading. The coordinated activity suggests a shift toward private custody or strategic allocation across several large-cap assets.
The LINK component stands out due to its size relative to recent liquidity conditions. The removal of supply from an exchange lowers immediate sell-side availability, adding to the broader picture of accumulation activity across the market.