Chainlink Price Eyes 10% Rally After ETF’s Second-Biggest Inflow of $9.48M

Chainlink price rose 4% to $13.36 over the last 24 hours, outperforming Bitcoin’s modest 0.49% gain. 

The token held above $13.30 after gaining 15% over the past month, supported by renewed institutional accumulation. Bitcoin price, ETH, and XRP are  seeing a slight surge, eyeing more recovery ahead

Chainlink’s ETF attracted $9.48 million, marking the fund’s second-largest inflow and adding support to the latest advance. Those inflows have brought a potential 10% rally into focus.

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Chainlink ETFs Record Second-Biggest Daily Inflow at $9.48M

The U.S. spot Chainlink ETF market attracted $9.48 million on October 9, its reported second-largest daily inflow since launch. SoSoValue data showed total net inflows reached $178.44 million after five consecutive sessions of zero net flows.

The additional amount was about 5.3% of the net inflows, which is a significant portion of the inflows that occurred in a single trading day. The products had been operating for 311 calendar days when the inflow was recorded.

Grayscale’s GLNK accounted for the entire daily inflow, while Bitwise’s CLNK reported no net inflows. Combined net assets totaled $225.35 million and daily trading volume for both funds was $7.80 million.

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Chainlink Price Prediction Eyes 10% as Recovery Momentum Builds

The LINK price rallied to $13.32 during its recent price rally, bringing the $14 support level back on the map. 

The RSI was at 49, which is around the normal level of 50. Modest positive momentum is suggested in these readings.

The MACD line measured 0.028 while the signal line was at negative 0.045. It had been backed by a positive 0.073 histogram, but the most recent ones had been tight. 

The last major level of support is at $14, and Chainlink price needs to find a way to breach that high point in order to extend its rebound. A sustained four-hour close above that barrier could shift attention toward the next resistance at $14.60. 

The Long-term LINK projection move toward $14.60 represents approximately 10% upside from the area. A clearing of $14.60 could open a path toward $15.

Support remains at $12.80, where a sustained breakdown would weaken the near-term recovery scenario. A break below that support could leave the psychological $12 level exposed.

Chainlink Volume Climbs to $420M as Open Interest Expands

The Chainlink derivatives market recorded stronger activity, with trading volume increasing 55.80% to $420.15 million, according to derivatives market data. The volume of outstanding LINK derivatives contracts, or open interest, rose 3.76% to $639.62 million.

The growth in turnover indicates that trading has increased at a faster rate than the increase in vacancies. Both measure do not depict overall trading direction and both are ambiguous as to bullish/bearish trading from the data available.