A cryptocurrency analyst has identified a technical pattern on Chainlink's (LINK) weekly price chart that suggests a significant upward movement could be imminent, potentially propelling the digital asset towards the $100 mark.
Analyst Ali Martinez has observed a consolidation pattern resembling a hybrid triangle, a formation that blends elements of symmetrical and ascending triangles. This pattern has been developing over several years, with the upper trendline acting as resistance and the lower trendline providing crucial support. Martinez highlights a key support level at $16, which aligns with the 0.5 Fibonacci retracement level. A rebound from this pivotal point could trigger a substantial breakout from the triangle pattern, with a potential target at the 1.272 Fibonacci extension level, approximately $100.
As of September 25, 2025, Chainlink was trading at $20.42, showing a daily decrease of 3.04%. Despite recent price fluctuations, the trading volume of $839 million indicates sustained market interest. The $22.00 level is currently acting as a critical resistance point. Another analyst, Crypto Monkey, noted that a rejection at $22.00 could lead to a price dip towards $20.00. However, a sustained breakout above $22.00 could pave the way for further gains, potentially reaching $26.00.
Triangle patterns are a common tool in technical analysis, representing periods of consolidation before a significant price move. Fibonacci levels are also frequently employed by traders to identify potential support and resistance areas, as well as to set price targets. While this technical analysis points to a promising outlook for Chainlink, the cryptocurrency market is dynamic and influenced by numerous factors. Investors are encouraged to conduct their own thorough research and manage their risk effectively, as technical analysis does not guarantee future performance.