Major players bet on LINK – A leverage to drive the price to a new peak of 100 USD?

Chainlink (LINK) is drawing strong attention from both technical analysts and investment institutions, after this coin officially broke free from a two-year accumulation pattern. This move opens up hopes for a new growth cycle, with ambitious price targets reaching up to 100 USD.

Technical model signaling a new growth phase

Currently, LINK is trading around 23.7 USD, up slightly by about 2% in the last 24 hours and moving sideways over the past week. Although short-term volatility is quite limited, analysts believe that this coin has just signaled an important message.

Analyst Ali Martinez has shared a weekly chart showing that LINK has broken out of the symmetrical triangle pattern formed since 2022. The breakout occurred at a price level above 21 USD – coinciding with the Fibonacci 0.618 level, which is considered a critical pivot point in the price cycle.

According to him, this break could signal the end of a prolonged Accumulation phase and open up a new rally. The price levels to watch are 31.57 USD, 53.07 USD, and 102.68 USD – among which, the 100 USD range is considered a potential target if buying pressure continues to sustain.

Resistance 24 USD – The gateway to the target 30 USD

A separate analysis from CRYPTOWZRD emphasizes that LINK still needs stronger signals on both the LINK/USD and LINK/BTC pairs. The analyst states that "we need more strong daily candles to be confident about the move towards 30 USD."

The 24 USD threshold is currently identified as an important resistance area. If LINK breaks through and holds above this level, the chances are high that an upward momentum will be triggered, pushing the price towards the target of 30 USD.

On the contrary, the level of 22 USD is considered a short-term support zone, suitable for entry points for short-term traders.

Organization Participation: Signals Reinforcing Trends

Not only the signals from technical analysis, but the institutional capital is increasingly playing an important role in strengthening the long-term prospects of Chainlink. The strong participation from traditional financial institutions indicates that this cryptocurrency is moving beyond the realm of speculation and gradually becoming a part of a professional asset allocation strategy.

One of the notable moves comes from Caliber, a digital asset and real estate management company listed on Nasdaq. The company has officially confirmed its purchase of LINK as part of its Digital Asset Treasury Strategy. Initially, the transaction was considered a "system test," but Caliber indicated that the long-term plan will be to continue adding LINK to its holdings by combining cash reserves, equity-based securities, and credit. This move reflects how listed companies increasingly view digital assets as an essential part of modern financial structures.

Alongside this, Grayscale – one of the largest digital asset management firms in the world – has filed for the establishment of a Chainlink spot ETF, which is expected to trade under the ticker symbol GLNK on the NYSE Arca. This proposal follows a similar move by Bitwise in August, indicating a growing trend in the demand for traditional financial products linked to LINK. If approved, this ETF will make it easier for institutional investors to access Chainlink without the need to directly hold the token.

Not stopping there, many other organizations are also joining the race. Big names like 21Shares, WisdomTree, and Canary Capital have all submitted applications for altcoin-based ETF funds. Approval decisions are expected to be made in October. If given the green light, this could become a strong boost, paving the way for institutional capital to flow into the market and increase the momentum for LINK.

Chainlink is at a critical juncture as both technical analysis and macro factors support a growth scenario. With the breakout from a two-year accumulation pattern, coupled with institutional capital inflow, the short-term target of 30 USD and further target of 100 USD are no longer a distant prospect.

In the context of Bitcoin gradually losing its dominance, LINK has emerged as one of the altcoins with the potential to lead a new upward wave in the market.

Annie