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Whales' $16 Wager May Trigger Chainlink's Surge Past $100

Whales' $16 Wager May Trigger Chainlink's Surge Past $100

Bitget-RWA2025/09/26 05:31
By:Coin World

- 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

Whales' $16 Wager May Trigger Chainlink's Surge Past $100 image 0

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,

is trading near $20.25, reflecting a 17% drop over the past week. Bulls must surpass resistance at approximately $204 and $213 to establish a lasting upward movement.

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

ETF, which may allow LINK staking, has attracted institutional interest. Approval of the ETF could boost liquidity and regulatory certainty, factors that have historically driven crypto prices higher. Additionally, Chainlink’s CEO recently met with the U.S. Securities and Exchange Commission to discuss tokenization, signaling increased regulatory involvement that could encourage broader adoption.

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

networks, which enable smart contracts to access real-world data. The introduction of the Chainlink Reserve and collaborations with established financial institutions highlight its growing use cases. Although short-term bearish trends remain, the combination of technical patterns, regulatory advancements, and institutional participation could position LINK for a breakout—assuming the $16 support remains intact.

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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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