Chainlink Price Outlook as LINK ETF Extends Inflow Streak to Three Straight Days

Chainlink price increased 0.95% to $14.44 over 24 hours, with the token’s movement largely following Bitcoin’s rally. 

The LINK price surged by more than  30% over the past month following the CCIP 2.0 Launch as the token eyes $20 level.

The modest advance coincided with a LINK ETF recording its third consecutive day of inflows. Positive regulatory developments supported sentiment, pushing total market capitalization up 2.37% to $2.93 trillion.

Bitcoin price hovered above $86,000 after a strong climb over the past day, while Ethereum traded above $2,700. XRP rose 3% to $1.53 over the same period, adding to the broader market’s positive daily performance.

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Chainlink ETF Extends Inflow Streak to Three Straight Days

The two Chainlink exchange-traded funds recorded $2.62 million in net inflows on October 1, according to SoSoValue data. Bitwise’s CLNK attracted the entire daily inflow, while Grayscale’s GLNK reported no net change.

Combined inflows reached $168.96 million, while total net assets stood at $244.34 million. Those assets, held across the two NYSE-listed funds, represented 2.27% of LINK’s overall market capitalization.

The weekly view showed $8.30 million in net inflows, with LINK quoted at $14.45. Daily trading across both funds totaled $14.99 million, with Grayscale accounting for $14.56 million. Grayscale held $175.69 million in net assets, compared with Bitwise’s $68.64 million.

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Is Chainlink Price Preparing for a Breakout Above $15?

The LINK price traded at $14.451 on October 2, rising 0.56% in the latest four-hour candle. Chainlink held above $14 support after retreating from its late-September peak. The narrow range trading observed on the recent candles kept trading below $15 resistance.

The four-hour relative strength index stood at 52.27; this reading suggested a modest positive bias, although momentum remained close to neutral.

The MACD line registered 0.048, trailing the signal line at 0.083. Its histogram remained negative at -0.035, indicating that bearish momentum was still present.

A sustained move above $15 could open the way toward the next resistance at $16 for the detailed LINK price analysis. 

Holding $14 would preserve the recent consolidation structure and support another attempt at resistance. 

Failure to defend that level could bring the previous trading area near $13 back into focus. A deeper decline could test the September support zone around $12.20, where an earlier rebound developed.

Chainlink Open Interest Nears $772M Despite Falling Trading Volume

Chainlink derivatives market saw a 21.53% drop in trading volume, which resulted in trading turnover of $589.69 million. 

There was a 21.53% decrease in trading volume on the Chainlink derivatives market, with the total turnover of $589.69 million. Only a slight decrease in the value of outstanding contracts as open interest, the number of contracts outstanding, increased 0.08% to $771.91 million.

The figures show lower trading volumes, but relatively flat derivatives exposure. Volume represents the number of contracts traded in a period and Open Interest represents the number of contracts that are held open.