do not hold too long, because it is risky. My advice is enough to hold because altcoins are very risky unless you hold USDT. so when the price goes up, immediately sell and when the price goes down you can hold
If you are not trusting the coin to begin with then what is the point in holding the coin when it goes down, first you need to trust the team and the project before investing your money, chainlink is getting some hype in terms of the market rally it had and had a small correction and i hope it will recover rather than dumping hard.
but as OP mentioned that if someone bought it at $1.5, (or maybe he's talking about himself here), and right now the price is at $16. that's a very huge profit over there. are you going to be greedy and lost your chance to earn a very decent income? it is up to you if can take the risk of losing some or earning more. maybe if i am the holder, i will sell some of my links that will get my profits many times over from my initial investments. and retain some if it will still continue to grow. at least i already have my profits and my initial investments when something goes sideways