Link Slides 15% from August Peak Even as Chainlink Reserve Removes $ 5.5M from Circulation

Link Slides 15% from August Peak Even as Chainlink Reserve Removes $ 5.5M from CirculationChainlink’s Native Token Encounted Persenti Bearish Pressure as BTC, Eth and The Broader Crypto Market Consolidated, Coindesk Research’s Model Shows. Sep 5, 2025, 3:22 PM

Link, The Native Token of Oracle Service Chainlink Has Been Under Pressure Recently As A Number of Positive Headlines Failed to Break The Deckline.

The Token Slid Another 2.8% Over The Past 24 Hours to $ 22.4 While The Broader Market, As Measured by the Coindesk 20 Index Was Little Changed, Coindesk Data Shows. IT’s Trading 15% Lower Since Topping $ 27 On Aug. 22, Despite Being Tapped by the US Government to Publish Economic Data on the Blockchain and BitWise Filing for a Link Exchange-Traded Fund (ETF).

The Cool-Off Period Follows a rallly that saw the token booking a 37% gain in august, one of the Strongest Advances Among Major Cryptos. IT ALSO COINCides with BITCOIN BTC$ 110.877.90Ether (ETH) and the Broader Crypto Market Pulling Back Since Mid-August.

The losses ocurred evin thorough the chainlink reserve, an automated mechanism that buys tokens in Thursday. Since Its Debut in Early August, The Mechanism Has Boughtal A Total of 237.014 Tokens, Worth $ 5.5 Million at Current Prices.

Technical Analysis

• Link Encounted Persenti Bearish Pressure, Forming Lower Highs and Lower Lows As The Broader Crypto Market is in a Consolidation Period, Coindesk Research’s Technical Analysis
• Key Technical Support Levels Establized AROUND $ 22.28- $ 22.32.
• Strong Volume-Backed Resistance ForMed AROUND The $ 23.10- $ 23.16 Level.

Disclaimer: Parts of this Article Were Generated with the Assistance from Ai Tools and Review by Our Editorial Team to Enseure Accucy and Adherence to Our Standards. For more information, See Coindesk’s Full Ai Policy.

More for you