Chainlink (LINK) has struggled under selling pressure following Bitcoin’s recent volatility. However, on-chain data now reveals that large investors have acquired over 1,1 million LINK in just 24 hours. Historically, such accumulation phases have preceded strong price rebounds, signaling growing confidence among institutional players.

MVRV Ratio Reaches Historical Reversal Zone

According to crypto analyst Ali Martinez, Chainlink’s Market Value to Realized Value (MVRV) ratio has dropped to -16,3%. In past cycles, when the MVRV ratio hit similar lows, LINK witnessed gains ranging from 25% to 312%. This suggests that a bullish reversal could be on the horizon if the pattern holds.

Can Chainlink Break Key Resistance?

Currently trading around $18.01, LINK is approaching a crucial support zone at $15,50. A sustained bounce from this level could trigger a push toward the next major resistance points at $19 and $23,70. If LINK gains enough momentum, it may confirm a new bullish trend, but failure to hold support could extend consolidation.