Whales' $16 Wager May Trigger Chainlink's Surge Past $100
- Chainlink (LINK) forms a multi-year symmetrical triangle pattern, with analysts predicting a potential $100 breakout if $16 Fibonacci support holds. - Whale accumulation at $16 and institutional interest in Grayscale's proposed LINK ETF suggest growing bullish sentiment despite current 17% weekly losses. - Regulatory engagement with SEC and expanding oracle network utility reinforce long-term potential, though bearish technical indicators like RSI below 50 persist. - Analysts project $100-$195 price targ
Chainlink (LINK) has developed a symmetrical triangle formation spanning several years, and technical experts believe a breakout toward $100 is possible if the coin revisits significant Fibonacci retracement points. Analyst Ali Martinez recently pointed out this pattern on X, mentioning that a pullback to $16—which matches the 0.5 Fibonacci retracement—could spark a price recovery. Should buyers step in at this level, LINK could aim for the 1.272 Fibonacci extension, which is around $100. At present,
This long-standing triangle pattern features converging trendlines that have limited price swings for years. Martinez noted that a bounce from the $16 support could pave the way for a breakout, with the $100 objective depending on strong buying momentum. This outlook assumes LINK does not fall below $16—a level where large holders have been accumulating. Data tracking whale activity shows increased buying at this price, indicating that major investors see it as a favorable entry point.
On the fundamental side, positive developments are supporting the bullish scenario. Grayscale’s application for a spot
Technical signals present a mixed picture. LINK’s Relative Strength Index (RSI) remains under 50, indicating bearish sentiment, while the MACD histogram is widening in negative territory. On the other hand, the 50-day moving average is trending upward, suggesting possible long-term resilience. On-chain data shows LINK holding the 13th spot by market cap at $15.1 billion, with daily trading volumes above $1.2 billion.
Analyst forecasts for LINK’s long-term price generally support the $100 target. Coinpedia projects a potential price of $195 by 2030, while Changelly and Mitrade estimate $140 and $139, respectively, for the same year. For the near term, Coinpedia expects an average of $47 in 2025, depending on how the triangle pattern resolves. Continued whale accumulation at $16 is crucial; maintaining this level could confirm the bullish outlook and set the stage for a prolonged rally.
Chainlink’s standing in the market is further enhanced by its function in decentralized
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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