Core Insights - The native token of Chainlink (LINK) faced significant institutional selling pressure, dropping to its lowest price in over a week, with a decline of 4% to $21.30, reversing more than 8% from Monday's local high [1] - The broader crypto market also experienced weakness, with the CoinDesk 20 Index reflecting a similar decline [1] Chainlink Reserve Activity - The Chainlink Reserve purchased an additional 45,729 LINK tokens worth nearly $1 million, maintaining its weekly buying pattern [2] - The reserve currently holds approximately $10 million worth of tokens, but is now underwater as LINK trades below the average cost basis of $22.44 [2] Technical Indicators - CoinDesk Research's technical model indicates bearish momentum, highlighting a decline in investor sentiment [3] - The trading range for LINK expanded to $1.05, showing 5% volatility between a session low of $21.53 and a peak of $22.68 [5] - Technical resistance was noted at the $22.68 level, where the token reversed on heavy trading volume of 1,981,247 units, with additional resistance at $21.92 [5]