TLDRChainlink (LINK) is currently trading around $21.77, challenging the $22.00 resistance levelAnalyst Ali Martinez identified a triangle pattern suggesting a potential $100 price targetA drop to $16 support level could create a buying opportunity according to MartinezLINK faces a long-term diagonal resistance that has blocked upward movement since 2021Strong trading volume of $839 million indicates active market interest despite recent price declineThe price of Chainlink (LINK) has been experiencing turbulence in recent days, with the cryptocurrency currently hovering around $21.77 after dropping more than 17% over the past week. Technical analysts are watching a triangle pattern formation that could signal a major price movement in the coming months.Cryptocurrency analyst Ali Martinez recently highlighted a triangle setup forming in Chainlink’s weekly price chart. This pattern shows the asset trading between two converging trendlines, with the upper line acting as resistance and the lower one as support.A dip to $16 on Chainlink $LINK would be a gift. This triangle breakout setup targets $100! pic.twitter.com/s69oqbMniB— Ali (@ali_charts) September 25, 2025Martinez noted that LINK tested the upper boundary earlier this year but found rejection. Despite the current downward movement, the analyst views a potential dip to $16 as a buying opportunity rather than a cause for concern.“A dip to $16 on Chainlink $LINK would be a gift,” Martinez stated, pointing to this level as the 0.5 Fibonacci retracement mark.The triangle pattern identified by Martinez doesn’t fit neatly into the typical categories of ascending, descending, or symmetrical triangles. Instead, it lies somewhere between a symmetrical and an ascending triangle, with an upward angle but not fully matching either classification.Key Support and Resistance LevelsIf Chainlink rebounds from the $16 support level, Martinez suggests the price could break out of the triangle formation. This breakout might set a target at the 1.272 Fibonacci extension level, which corresponds to nearly $100 in price terms.Another analyst known as Crypto Monkey focuses on more immediate price action, noting the crucial $22.00 resistance level. A rejection at this mark could trigger a move down toward $20.00, while a breakout above $22.00 might open a path toward $26.00.The $21.30-$21.40 range now serves as immediate support for Chainlink. Holding above this zone is essential for bulls to maintain momentum and potentially stage a recovery rally.Chainlink Price on CoinGeckoLong-Term Technical OutlookOn the monthly chart, analyst MarketMaestro reports that LINK has failed to clear a long-term diagonal resistance line that has blocked several upward attempts since the 2021 peak. This trendline continues to act as a strong technical barrier.Key support levels identified by MarketMaestro include $14, $17, $21, and $25. These areas could serve as demand zones if selling pressure persists. Chainlink needs consistent buying interest to stabilize and make another attempt to break through the diagonal resistance.Despite recent setbacks, the $31 zone remains a major target if bullish conditions return to the market. A decisive monthly close above the red diagonal resistance could shift market sentiment and trigger a new upward movement.The 24-hour chart reveals that Chainlink opened near $21.60 and briefly moved above $21.80 before experiencing selling pressure. This pushed the price down to $21.37 by the end of the session, resulting in a 1.35% daily loss.Trading volume for Chainlink remains robust at approximately $839 million, indicating strong market participation rather than thin liquidity. With a market capitalization of around $14.48 billion and a circulating supply of nearly 678 million tokens, Chainlink currently holds the 13th position among major cryptocurrencies.For the short term, reclaiming the $21.80 level would be important to re-establish upward momentum. In the longer term, the broader market will be watching for a breakout above the diagonal resistance that has capped Chainlink’s price since 2021.The outcome at current price levels could determine the next directional move for LINK. A confirmed breakout above resistance could attract fresh buying interest, while a rejection might lead to testing lower support levels.Chainlink’s price movements reflect technical factors that many traders and investors monitor to make decisions. The triangle pattern identified by Martinez suggests significant upside potential if the right conditions develop.The post Chainlink (LINK) Price: Triangle Formation Suggests Possible Path to $100 Target appeared first on Blockonomi.