Chainlink (LINK), one of the leading oracle platforms, has struggled to find a recovery throughout February. Despite multiple pieces of positive news, selling pressure has remained persistent.
As price action reaches a support level that has held for six years, February could be the decisive moment for LINK to enter a new price phase.
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Positive Developments in February Fail to Offset Selling Pressure
Price data shows that the current level around $8.4 aligns with a long-term support trendline that has held since 2020. This makes LINK’s price behavior in the coming days a key reference point for analysts when forming longer-term projections.
Chainlink (LINK) Price Performance. Source: TradingViewRecent signals from strategic partnerships could, in theory, strengthen LINK’s appeal.
Robinhood has launched a public testnet for Robinhood Chain, a Layer 2 network on Arbitrum designed for tokenized assets. More importantly, Chainlink serves as the platform’s oracle provider. The integration allows developers to leverage Chainlink’s data feeds, interoperability, and compliance standards to support advanced tokenization use cases.
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Similarly, Ondo Finance, a platform focused on tokenized real-world assets, has selected Chainlink as its official data provider. The goal is to accelerate the adoption of tokenized stocks and ETFs. This collaboration enables tokenized U.S. securities to operate across Ethereum’s DeFi ecosystem, secured by institutional-grade data.
The benefits from the Robinhood and Ondo partnerships have not translated into an immediate price increase. Weak overall market sentiment appears to be the main constraint. LINK showed no clear rebound from the six-year support level when these announcements were released.
On another front, exchange-side selling pressure has intensified. Exchange Inflow (Top 10) rose sharply in February 2026.
Chainlink Exchange Inflow (Top 10). Source: CryptoQuantThis metric measures the total amount of coins from the top 10 inflow transactions to exchanges. Elevated values indicate that large volumes of LINK are being deposited at once. This behavior often signals rising sell-side pressure.
A similar spike occurred in September last year. LINK’s price began to decline shortly afterward. The metric has now started rising again. This trend may suggest that some large holders are preparing to liquidate, adding to downward price pressure.
Sustained selling pressure could push LINK below its six-year support. However, partnerships with Robinhood and Ondo still provide long-term optimism. A meaningful recovery will likely require a more favorable market environment to align with Chainlink’s underlying fundamentals.
Source: https://beincrypto.com/link-approaches-a-six-year-support-level/
