Bitwise Files for Spot Chainlink ETF as LINK Gains 5%
Bitwise is set to launch the first spot-based ETF in the U.S. focused on Chainlink's native token, LINK. The filing was made with the U.S. Securities and Exchange Commission, proposing Coinbase Custody as the custodian for the tokens.
- LINK saw a 5% bounce but remains down 1.6% over the past 24 hours.
- Price fluctuated between $24.81 and $22.90, with a notable recovery occurring during the ETF filing.
- Recent trading volume reached 6.58 million units, above the average of 2.29 million.
- Resistance is at $24.30, with support near $23.00.
- Failure to reclaim $24.00 may indicate ongoing bearish momentum.
- A drop below $23.40 could lead to further declines toward $23.00.
Technical analysis suggests continued bearish pressure, despite recent price movements related to the ETF news.