Chainlink (LINK) Triangle Formation Points to Potential $100 Breakout, Analyst Predicts

Chainlink (LINK) is consolidating within a critical technical pattern, sparking speculation of a breakout toward $100. The cryptocurrency has formed a triangle setup on its weekly chart, reflecting prolonged investor indecision. Analysts are monitoring this pattern closely, as it could define LINK's price trajectory in the coming months.

Cryptocurrency analyst Ali Martinez notes that LINK has been coiling inside a triangle pattern for several years. Triangles in technical analysis occur when an asset trades between two converging trendlines—resistance above and support below. LINK's pattern is a hybrid, neither fully symmetrical nor ascending, indicating a stalemate between bulls and bears.

Chainlink recently retested the upper boundary of the triangle and faced rejection, signaling strong resistance NEAR that zone. The cryptocurrency is now trending lower, with traders watching for a decisive breakout or breakdown to confirm the next major move.