Chainlink LINK’s price has fallen by more than 10% over the last week. The altcoin is now valued at $20. The crypto market may appear to be in a bearish mood, but a recent cryptocurrency analyst revealed that a Triangle breakout Chainlink setup could indicate an asset price of $100.
It’s a brand new world post On X, Ali Martinez talked about a triangle Pattern forming on the Chainlink weekly price. The analyst points out that, over the course of last year, the LINK prices have been nearing the upper limit of the pattern triangle, indicating a breakup of upper resistance. “Looks like the 1-week price of the coin has been trading near the upper boundary of the triangle,” The analyst has written on X. “A dip to $16 on Chainlink $LINK would be a gift.” The gift Martinez refers to represents a potential buying opportunity ahead of a possible exponential rally.
Martinez has highlighted the possible path an asset may take after it bounces from this level. Analysts believe that a bounce off the line would lead to an eventual breakout of the triangle. A potential target could be the 1.272-extension level drawn from the level 1 in the chart. This level is equivalent to nearly $100 in Chainlink prices, a 400% increase from the current price.
Crypto whales have also recently been attracted to the native Chainlink currency. In fact, during the period of price decline, approximately 800,000. coins were purchased by large investors. Whales bought LINK at a discount price as the price of LINK dropped towards $21 in the past few days.
LINK is also hoping that the recent development will help it push past the 25-dollar mark. It is possible that LINK could surge to $40 or $30 if it breaches the $25 mark. Other analysts suggest that Chainlink price (LINK), may be consolidating, then break out. Analysts at CoinCodex forecast the price of Chainlink to rise by 8.08% and reach $ 21.73 by October 25, 2025, amid a bearish market.
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Source: watcher.guru
