- ChainLink (LINK) price dropped over 10% in the past week, trading near $20.
- An analyst highlighted a triangle pattern in LINK’s weekly chart, hinting at a possible major price breakout.
- A potential dip to $16 is seen as a buying opportunity before a projected climb towards $100, according to technical analysis.
- Crypto whales purchased around 800,000 LINK during the price drop, showing increased interest from large investors.
- LINK faces resistance at $25, with forecasts pointing to possible gains in the coming months amid a bearish market.
Chainlink (LINK) has seen its price fall by more than 10% over the last week, with the token now trading around $20. The overall sentiment in the cryptocurrency market remains bearish as of this week.
Analyst Ali Martinez shared on X that LINK’s weekly price movement is forming what is called a triangle pattern—a chart formation that can signal a breakout when the price moves sharply beyond its established boundaries. Martinez stated that LINK has been trading near the upper edge of this triangle.
The analyst noted, “A dip to $16 on Chainlink $LINK would be a gift,” suggesting that such a drop could offer a buying opportunity ahead of a significant rally. Martinez’s chart shows that if LINK rebounds from this level, it may break above the pattern and reach the 1.272 extension level, a common technical indicator that projects possible price targets. For LINK, this could mean a surge to nearly $100, about 400% higher than today’s price.
Large investors, often called crypto whales, have turned their attention to LINK during the recent price decline. Over the last few days, whales have bought around 800,000 LINK as the price moved closer to $21, suggesting they view it as a favorable entry point.
The $25 level has acted as resistance for LINK this month, limiting the token’s upward movement. If LINK surpasses this price, technical analyses suggest it could rise toward $30 or $40. Alternatively, analysts indicate that LINK’s price may continue consolidating for now before breaking out. According to CoinCodex, LINK could rise by about 8% to $21.73 by late October 2025, even if the market remains generally bearish.
Chainlink continues to be a focus for both technical analysts and large investors, as the market watches for potential developments in price and trading patterns.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
