TLDR:

Chainlink trades near $22 after a 4% daily drop, while analysts see $16 support as the strongest setup for growth.
Ali’s chart shows a long-term descending triangle, with $24 resistance and $16 support defining the next big move.
Fibonacci targets place the long-term LINK price goal near $98, matching analyst projections of a run to $100.
Traders like Marcus Corvinus say LINK already gave 100% profits after a breakout, with bulls showing strong control.

Chainlink’s price has been moving within a tight structure that traders have watched closely for months. Some analysts now argue a short-term pullback could actually strengthen the long-term outlook. 

Market watchers suggest that the $16 level may hold the key to what comes next. A retest there could open the door for a much larger breakout. With LINK trading around $22, eyes remain on whether the token can use this setup to fuel a rally.

Why $16 Matters for Chainlink Price

Crypto analyst Ali shared an outlook suggesting that a dip toward $16 may be the most bullish setup for Chainlink. 

His chart pointed to a long-term descending triangle pattern stretching from 2021 to today. The lower edge of this structure rests near $16, making it a crucial support level.

Chainlink price on CoinGecko

Price data from CoinGecko shows LINK at $22.18 with a daily trading volume above $855 million. The token has slipped 4.23 percent in the last day and over 5 percent this week. Traders see the current range as consolidation before a decisive move.

The key resistance stands near $24, aligning with both the triangle’s upper boundary and a Fibonacci retracement level at $21.60. A push above this zone could unlock higher levels. The next target mentioned in Ali’s analysis is a Fibonacci extension around $98.16, which lines up with the $100 projection.

The setup suggests that a controlled pullback to $16 would strengthen buyer conviction. Market participants often view such retests as confirmation that the structure is ready for a breakout.

A dip to $16 could be the most bullish setup for Chainlink $LINK. It sets the stage for a breakout to $100! pic.twitter.com/k2NDdLJxVU

— Ali (@ali_charts) September 6, 2025

LINK Price Outlook Toward $100

Ali’s chart indicates dotted projections showing LINK gradually climbing after any dip toward support. The idea is that once $16 holds, the path to retest $24 becomes stronger. From there, a breakout could send LINK toward the higher extension targets.

Marcus Corvinus, another trader, posted that LINK already delivered 100 percent profits once momentum kicked in after breaking a trendline. He noted that bulls are still in control, with the next step being continuation into higher zones. His commentary adds weight to the bullish outlook as momentum remains on the side of buyers.

$LINK UPDATE IS HERE

As expected, once $LINK broke that trendline, momentum kicked in hard.

The move is clean, strong, and it’s now approaching our target range exactly as planned.

Setup already delivered 100%+ profits for those who followed.

Bulls are still holding… https://t.co/JSQIuBsd3L pic.twitter.com/LY75vgUZPu

— Marcus Corvinus (@CryptoBull009) September 6, 2025

The consolidation of the past years appears to be shaping up into a possible launch zone. If buyers defend the $16 area, it could act as the springboard for the next rally phase. Traders will be watching whether LINK can gather the strength to close above resistance and confirm the bullish pattern.

For now, the market awaits confirmation. The move could take time, but analysts agree that the structure is clear. If $16 holds and $24 breaks, the road toward $100 may come into view.

The post Chainlink Dip to $16 Could Be the Most Bullish Setup for LINK Price, Expert Says appeared first on Blockonomi.

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Filed under: Bitcoin - @ September 6, 2025 1:25 pm