Recent data shows that Chainlink (LINK) has established strong buyer interest around the $16 level. On October 19, more than 54.47 million LINK were acquired, according to a cost basis heatmap shared by Ali Martinez.
At press time, LINK was trading at $18, with a 24-hour decline of 5% and a weekly loss of 3%. Daily trading volume stands at $1.05 billion.
$16 Identified as Heavy Accumulation Range
The cost basis heatmap highlights a dense concentration of wallet activity at $16. This level now marks a key reference zone on the chart. The visual shows a strong horizontal cluster, which reflects a high number of tokens changing hands in that range.
The accumulation suggests market participants see value at this level. A large volume of tokens held here may reduce selling pressure, especially if prices return to that zone. Ali Martinez described the area as a “strong support zone,” based on the size of the holdings.
A separate chart from Ali shows a long-term triangle pattern with pric
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