Chainlink (LINK) attracts fresh institutional and whale interest as Charles Schwab expands its crypto trading offering and whales accumulate nearly $2 million worth of LINK, while the token struggles to hold the key $10 support level.
Chainlink (LINK) has seen notable institutional and whale interest even as its price continues to decline and remains sideways for the past five trading days. Recently, a report from the $13 trillion asset manager Charles Schwab disclosed that the firm has expanded its digital asset offering, while whales' recent acquisitions further support this optimism.
According to a post on X, Schwab crypto clients can now buy and sell LINK, Avalanche (AVAX), and Solana (SOL), in addition to Bitcoin (BTC) and Ethereum (ETH). The post also added, “These new tokens are part of Schwab’s plans to thoughtfully expand its digital asset offering.”
This move by the giant asset manager appears to be a positive development for LINK, as it could attract more investors to explore the asset.
Meanwhile, whales have also been acquiring LINK tokens, further strengthening the positive outlook. Recently, a well-followed crypto analyst shared a post on X disclosing that a sleeping whale woke up after two years and purchased $1.18 million worth of LINK tokens.
In addition to this acquisition, another whale acquired $1.98 million worth of LINK tokens from Binance across 10 transactions, as reported by crypto transaction tracker Onchain Lens.
In addition to these acquisitions, another factor currently supporting the positive outlook is Chainlink Reserve. A well-followed crypto expert, Quiten, recently shared a post on X disclosing that LINK is back at $10 and sentiment is absolutely terrible. Amid this, Chainlink Reserve added a notable 94,500 LINK tokens on November 5, 2026. With this addition, the Reserve's holdings have reached 6.57 million LINK tokens.
Now, looking at all these developments, you might be wondering what is next for LINK's price and whether it is poised for a reversal or will continue its downward move in the coming days.
At press time, LINK has declined 3.35% over the past 24 hours and is trading at $10.41. During the same period, the asset's trading volume has increased 1.35% to $79.29 million, indicating heightened participation from traders and investors.
Looking at the TradingView daily chart, LINK has been moving in a downtrend since September 29, 2026. With a 33% price decline, the asset has now reached a key support level near $10, which has a history of triggering price reversals.
The current price action shows that LINK is approaching a make-or-break level. If the asset remains above the $10 level, the likelihood of a potential reversal would be higher. On the other hand, if the asset declines or fails to hold the $10 level, it could potentially see a sharp downside move.
At press time, the Average Directional Index (ADX) reads 25.99, above the key threshold of 25, indicating that LINK has stronger trend strength. Meanwhile, the Chaikin Money Flow (CMF) value of -0.05 indicates slight selling pressure and negative capital flows into the asset.
Derivative platform CoinGlass, on the other hand, shows a different story from what whales and institutions have shown.
At present, LINK's Taker Buy/Sell Ratio falls below 1 and reads 0.90, with taker buys standing at 47.50% and taker sells at 52.50%, indicating that sellers are currently dominating buyers in the derivatives market, as selling activity exceeds buying activity.
In fact, these data suggest bearish sentiment among short-term traders despite the positive outlook driven by whales who have accumulated millions of dollars' worth of LINK tokens.
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