Share this article
Chainlink's LINK Tumbles 6% as Technical Breakdown Trumps UBS, FTSE Partnership
LINK risks falling to $14 as breakdown amid heavy volume confirmed the broader bearish structure.
Nov 4, 2025, 6:38 p.m.
Make us preferred on Google
What to know:
- Chainlink's native token LINK plunged another 6% to $14.59 as heavy volume overwhelmed bullish developments.
- UBS tokenized fund transaction and FTSE Russell partnership couldn't halt decline.
- Breakdown below $15.26 triggers descending channel on 154% volume spike, CoinDesk Research's technical analysis model suggests.
Native token of oracle network Chainlink broke through key technical support levels on Tuesday, dropping 6% to below $14.50, CoinDesk data shows.
The decline accelerated on massive volume that surged 57.81% above the seven-day average, signaling aggressive distribution rather than thin-market selling, CoinDesk Research's technical analysis model noted.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The weak price action went down despite major institutional partnership announcements that would typically fuel rallies.
Swiss banking giant UBS completed the world's first end-to-end tokenized fund transaction using Chainlink's Digital Transfer Agent standard. Meanwhile, FTSE Russell announced plans on Monday to bring Russell 1000, 2000, and 3000 indices onto blockchain rails tapping Chainlink's DataLink services.
Technical Weakness vs Banking Adoption: What Traders Should Watch
With major partnerships failing to prevent the support breakdown, LINK demonstrates how short-term technicals often override fundamental developments.
The decisive break below the $15.26 support level occurred during morning trading on exceptionally high volume of 4.69 million tokens, establishing a clear descending channel that accelerated into the close.
The final trading hour proved particularly destructive as LINK crashed from $15.22 to $14.70 on massive volume exceeding 3.5 million tokens. The breakdown confirmed the broader bearish structure while potentially creating oversold conditions for any recovery attempt.
Key Technical Levels Signal Further Downside for LINK
- Support Zones: Critical test at $14.50-$14.60 demand zone following breakdown.
- Volume Analysis: 57.81% surge above seven-day average validates breakdown move.
- Chart Patterns: Descending channel formation confirms bearish momentum shift
- Targets & Risk: Further weakness toward $14.00 likely before stabilization occurs.
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.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
Más para ti
Cathie Wood’s ARK Invest files for two crypto index ETFs tied to CoinDesk 20
One proposed fund will attempt to exactly mimic the CoinDesk 20, but the other would track the index, excluding bitcoin.
Lo que debes saber:
- ARK Invest has filed with U.S. regulators to launch two cryptocurrency ETFs tracking the CoinDesk 20 index.
- One proposed fund would track the CoinDesk 20, which provides exposure to major tokens, including bitcoin, ether, solana, XRP, and cardano. The other would track the same index, but exclude bitcoin, by pairing long index futures with short bitcoin futures.
- The funds, which would list on NYSE Arca if approved, aim to offer diversified crypto exposure without direct token custody and follow similar, still-unapproved crypto index ETF proposals from WisdomTree and ProShares.
Top Stories
