Link's symmetrical triangle structure may trigger a price revisit to $16, potentially paving the way for a subsequent surge towards its predicted goal of $100.
Chainlink Tests Key Support Levels Amidst Modest Decline
In the cryptocurrency market, Chainlink (LINK) is currently testing key support levels, with the digital asset experiencing a slight decline of 0.23% to $22.29 as of September 6, 2025. This comes amidst a broader context of institutional adoption, as Europe's regulated tokenized securities platform 21X, which utilises Chainlink technology to connect financial institutions to blockchain infrastructure, was recently launched.
The current price movement is being closely watched, as it unfolds within a multi-year symmetrical triangle pattern that has contained Chainlink's price within converging boundaries. This pattern is considered a crucial foundation for the bullish thesis, with the most significant support found at $16 – an ascending support line of the triangle and a magnet for whale accumulation.
If Chainlink manages to break through the $31 level, its path toward its previous all-time high around $50-$52 becomes more likely. However, the $25-$27 range presents the first hurdle for Chainlink, and a strong breakout above it would open the door toward the macro pivot at $31.
History shows that the level at $31 has repeatedly capped rallies, making it a defining point for a broader trend reversal. A breakdown below the critical $19.53 support level, marked by the blue line on the TradingView chart, could deepen losses. On the other hand, a rebound may provide the foundation for a potential trend reversal.
The Relative Strength Index (RSI) currently sits at 46.75, below the neutral 50 level, suggesting a bearish tone for Chainlink's short-term outlook. The MACD line on the TradingView chart is positioned below the signal line, indicating growing downward momentum.
Despite the modest intraday drop, the steady valuation of Chainlink is highlighted, with a global market rank of 13 and a market capitalization of approximately $15.1 billion. The daily trading volume stands at roughly $1.23 billion.
The 24-hour chart shows Chainlink's price moving within a narrow range, with an intraday peak near $22.45. The TradingView chart suggests a bearish tone for Chainlink's short-term outlook, but the long-term projection for Chainlink suggests a possible trajectory toward $100 once the breakout fully develops.
In conclusion, Chainlink's current price movement is significant, as it tests key support levels within the context of a multi-year symmetrical triangle pattern. The digital asset's future trajectory will depend on its ability to break through the $25-$27 range and the macro pivot at $31, while maintaining the critical support level at $19.53.
