Chainlink Loses $16 Cost Basis As 53.87M Tokens Shift Below Support

The heatmap shows Chainlink losing a heavy cost basis zone with fifty three point eight seven million tokens near sixteen dollars.

A lower cost basis range forms between twelve point four and twelve point five dollars with nine point five million tokens.

Traders review how both cost zones influence price action as Chainlink trades under the major sixteen dollar level.

Chainlink lost its key sixteen dollar support area where fifty three point eight seven million tokens were previously accumulated. The cost basis heatmap shows how the breakdown moved the asset into a new lower range that now acts as the next area of interest for traders. The chart shows two major cost concentration zones and each illustrates where large volumes of LINK were acquired during earlier market activity.

Heatmap Signals a Clear Break of the $16 Zone

The heatmap displays Chainlink’s historical cost basis using layered color bands. The strongest band sits near sixteen dollars and represents more than fifty three million tokens. This area acted as a foundation during earlier market consolidation. Price traded inside this zone for months before falling below it during the recent decline.

A cost basis label on the chart marks a range between 16.09 and 16.23 dollars, the exact level now broken. The heatmap uses darker shading to show where supply is concentrated and the sixteen-dollar region shows one of the densest bands. The recent drop places the current price under this broad cluster for the first time since mid-year.

As the chart moves into November, the declining line shows how price slipped through this dense region. The move shifts attention toward lower cost ranges that now appear much more active. The sixteen-dollar zone remains visible on the heatmap but no longer holds as the nearest support area.

New Lower Cost Basis Forms Between $12.47 and $12.57

The second major band on the heatmap appears near 12.47 to 12.57 dollars, supported by 9.58 million tokens. This area now acts as the next strong support base, according to the displayed data. The chart shows the price approaching this band during recent trading sessions.

Supply density in this lower band is smaller than in the sixteen-dollar zone, yet it remains meaningful. The heatmap’s color scale places this region in a mid-range density level. The chart’s downward movement points toward this band as the next possible zone where trading interest could reappear.

A label marks the exact token supply associated with this level. The heatmap shows how these lower cost concentrations emerged during late summer accumulation phases. Price action since then has returned to the same region, matching earlier movement patterns on the chart.

Market Reaction and Analyst Commentary

Analyst posts note that the break below sixteen dollars removed a significant area where LINK had accumulated heavy cost basis density. One comment states that defending fourteen dollars could prevent a plunge toward twelve dollars, though retests carry risk. Another mentions that LINK historically shakes out weak hands before new trend continuation phases begin, a pattern seen in earlier cycles.

The signals captured in the heatmap raise one central question for traders now watching the chart closely: Will the twelve-dollar range act as the next zone where accumulation reappears?