Kyle Samani Exits Multicoin Capital Amid Chainlink’s Downtrend
February 4, 2026, 21:11 UTC – Prominent crypto investor Kyle Samani, co-founder of Multicoin Capital, announced his departure from the firm to pursue new technology frontiers, coinciding with Chainlink (LINK) token plunging 5.47% to $9.33 in the past 24 hours. The move, detailed in this breaking report, has sparked speculation on its impact on Multicoin’s portfolio holdings, including potential LINK exposure.
Details of Samani’s Departure
Samani cited a desire to “explore new technology areas” as the reason for stepping back, per his personal announcement labeled “KYLESAMANI.” Multicoin Capital, known for early bets on projects like Solana and Helium, has not publicly confirmed LINK investments, but the timing aligns with broader market pressures. Bitcoin (BTC), down 4.46% at $73,412, underscores altcoin vulnerability in a downtrend.
Technical Breakdown: Bearish Signals Dominate
LINK’s price action reflects deep oversold conditions. At $9.33, it’s below all key EMAs: EMA20 ($11.21), EMA50 ($12.32), and EMA200 ($17.26), per TradingView data. RSI(14) at 25.22 signals oversold territory, while MACD remains bearish with a -0.9291 line versus -0.6567 signal. Stochastic K/D (9.97/15.13) reinforces downside momentum.
Support eyes $8.97 (S1, 85/100 score, -3.85% away), backed by 1D Fibonacci, Donchian Lower, and swing lows. Multi-timeframe (1D/3D/1W) strong supports include $7.90 (80/100). Resistances loom at $10.08 (R1, 65/100, +8.05%) and $9.38 (R2, NEAR pivot). Bollinger Bands place LINK in the lower half, with ATR at 0.74 indicating volatility.
Market Reaction and Historical Context
LINK’s 24-hour volume hit $397 million amid the 5.47% drop from $9.88 high to $9.02 low. This mirrors BTC’s bearish Supertrend, cautioning altcoins. Historically, LINK peaked near $53 in 2021 amid oracle demand; Multicoin’s 2020 investments in DeFi indirectly boosted Chainlink via ecosystem plays, though direct ties remain unconfirmed.
Expert Perspectives and Implications
Analysts view Samani’s exit as neutral-to-bearish for portfolios, potentially signaling reduced focus on legacy alts like LINK. “Leadership shifts in key VCs often precede reallocations,” notes a pseudonymous trader on X. Short-term, crash targets at $4.89 (22 score) loom if $8.97 breaks; moon targets like $13.74 offer upside if resistance clears.
What to Watch
Monitor BTC correlation, $8.97 support test, and Multicoin statements. A RSI rebound above 30 or MACD crossover could signal relief, but downtrend persists below EMA200.
Source: https://en.coinotag.com/kyle-samani-steps-back-multicoin-chainlink-link-bearish-analysis
