Chainlink Price Could Soar to $15 as ETF Listing Nears

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Chainlink Price Could Soar to $15 as ETF Listing Nears

Highlights

  • Grayscale's Chainlink ETF could attract institutional investors next week.
  • Chainlink price is aiming for $15, with $14 resistance ahead.
  • Technical signals a bullish trend, showing neutral to bullish momentum

Chainlink price has seen a slight increase of 1.0% over the past 24 hours. The cryptocurrency is currently maintaining momentum above the $12 mark and is targeting the $15 level, following an optimistic upward trend.

With a trading volume of $671.99 million, up 15% in the last day, Chainlink is gaining attention due to the anticipated launch of the Chainlink ETF. 

This positive outlook is reflected in the broader crypto market, with Bitcoin, Ethereum, and Solana also a slight gains. Investors are hopeful that the ETF listing could further boost Chainlink’s price.

Grayscale’s Chainlink ETF Could Launch Next Week

Chainlink will launch the first-ever Chainlink spot ETF, which is named as $GLINK, which will begin trading next week, and Grayscale will possibly launch the product on December 2.

This is a significant milestone of Chainlink that will provide institutional investors with a controlled means of exposure to $LINK and not necessarily holding the crypto asset

The ETF provides an opportunity to raise new capital flows of pension funds, business treasuries, and asset managers, providing a new structure of investment opportunities to the interested ones. This action could trigger institutional enthusiasm in the crypto market, according to Grayscale.

Chainlink Price Bulls Eye $15 Resistance Level Ahead

As of the reporting time, the LINK price pumped at $13.02, marking a 2.20% increase over the previous period. 

On the upside, $14.00 remains a strong resistance level. If LINK price pushes past this level, a move towards $15.00 is possible, as the future Chainlink price outlook.

The Moving Average Convergence Divergence (MACD) indicator, as the chart shows, shows a small positive momentum. The MACD line has also broken over the signal line, indicating that the market sentiment is becoming bullish.

This is also corroborated by the histogram that has entered into the green region, though the momentum is not very high with the MACD at 0.07.

Chainlink Price Could Soar to $15 as ETF Listing Nears
Source: LINK/USD 4-hour: Tradingview

The Relative Strength Index (RSI) is currently at  57, which means that Chainlink is in the neutral and slightly bullish region.

If the Chainlink price drops below $12.00, the next key support level is at $11.50, where buying pressure could emerge.

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Frequently Asked Questions (FAQs)

1. When is Grayscale's Chainlink ETF launching?

Grayscale’s Chainlink ETF is expected to launch on December 2.

2. How will the Chainlink ETF impact the price of LINK?

The ETF could attract institutional investors, potentially increasing demand for LINK and pushing its price higher, possibly towards $15.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

LINK

Chainlink

$13.0642 0.44% (24h)

24 Hours volume

$655.61M

Market Cap

$8.19B

Max Supply

NA

Buy $LINK with MEXC
About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.