- Chainlink’s worth motion is tightening inside an enormous multi-year triangle, with key assist close to $16 and resistance at $24.
- Fibonacci ranges map out a possible path towards $31, $52, and ultimately $98–$100 if bullish momentum holds.
- Analysts say a dip may truly be the most bullish setup, setting the stage for a long-term breakout.
Chainlink is likely to be establishing for one in all its largest strikes in years — at the very least that’s what some merchants are beginning to whisper about. A crypto analyst, Ali, dropped a weekly chart on X that lays out what he calls the “most bullish setup” for LINK. His roadmap is easy sufficient: a dip back towards $16 earlier than an eventual run that might stretch all the means to the $100 neighborhood.
At first look, it seems to be like simply one other squiggly chart. However zoom in and also you’ll see an enormous triangle that’s been forming since 2022, with Fibonacci ranges rigorously stacked over it. A retest close to $16 would line the whole lot up neatly — type of like a spring coiling tighter earlier than an enormous snap.
Why Traders Are Eyeing the Triangle
Ali’s chart reveals LINK squeezing inside a large symmetrical triangle, getting nearer to its apex. Proper now, worth sits close to $22, brushing up towards the 0.618 Fibonacci retracement at $21.61. If it slides down towards $16, that may hit the 0.5 Fib at $16.49, creating the next low inside the triangle — usually a first-rate setup earlier than liftoff.
The actual set off sits above $24, the place a descending resistance line has stored LINK capped. A decisive breakout there can be the first inexperienced gentle.
In fact, this isn’t simply chart doodling. Chainlink isn’t a meme coin — it’s a decentralized oracle community, shifting off-chain knowledge into good contracts. Meaning real-world adoption and utilization (like worth feeds and exterior knowledge alerts) straight join to token demand. When adoption climbs, so does the worth case for LINK.
Fibonacci Map to $100
Ali’s Fibonacci ranges sketch out a transparent path. The important thing numbers:
- Assist round $16.49 (0.5 Fib).
- Resistance close to $21.61 and $31.88.
- Extensions pointing to $52.31 and $98.16 — virtually a bullseye on $100.
His dotted line projection seems to be like a roadmap: dip to $16, bounce above $24, rally towards $31, then $52, and ultimately that magical $98–$100 zone.
However don’t count on fireworks tomorrow. Weekly charts are sluggish movers, and this setup is extra like a rocket countdown than a fast launch. First the triangle squeeze, then the breakout, then stage-by-stage checks at every Fib degree. Solely in any case that might LINK take into consideration touching three digits.
The Huge Image
In easy phrases: a dip to $16 isn’t unhealthy information — it may very well be the precise bullish setup that clears the runway for an extended climb. Breakout above $24 opens the door to $31, $52, and perhaps, simply perhaps, $100.
It’s the type of situation that reminds merchants of previous altcoin cycles, the place years of sideways compression lastly gave means to explosive upside. Whether or not historical past repeats for LINK… properly, that’s the wager.
The submit Chainlink Price Setup Could Launch LINK to $100 — Here’s the Roadmap Traders Are Watching! first appeared on BlockNews.
