Chainlink Surges 20% as New ETF Attracts Strong Institutional Interest

Chainlink ETF Launch Boosts LINK Price

Chainlink (LINK) surged over 20% in 24 hours, reaching around $14.4.
Grayscale launched the GLNK ETF on NYSE Arca, converting a private Chainlink trust into a public trading product.
The ETF recorded over 1.17 million shares traded on its first day, with volumes hitting $13.8 million and early inflows near $43 million.
Institutions gain regulated exposure to LINK via platforms like Fidelity and Robinhood.
Grayscale holds about 1.3 million LINK tokens through this ETF.
LINK futures open interest increased by more than 20%, indicating rising trader engagement.

Chainlink Chart

Technical Analysis and Future Projections

LINK's chart shows a four-year descending wedge pattern, suggesting potential for a breakout.
The token bounced from a $12.50 support level, forming higher lows and regaining Fibonacci levels.
Daily RSI improved to around 53, and MACD signals are strengthening.
If LINK sustains above $13, it could move toward the $18–$20 resistance range.
A break beyond these levels might lead to targets of $26 or even $47, as per analyst Ali Martinez.

Market Sentiment and Support Levels

Institutional inflows and an active derivatives market bolster positive market sentiment.
Traders monitor the $12–$13 support area for sustainable recovery signs.
A clear move above $14.50–$15 could signal a bullish breakout.