Chainlink Holds Above Key Support, Showing Potential for Long-Term Growth

Key Insights:

• Chainlink remains strong above $13, signaling potential for future price growth.
• Grayscale’s Chainlink ETF attracts $67.55M in net inflows, highlighting growing investor interest.
• Grayscale’s new LINK ETF offers broader exposure to traditional investors with zero fees.

Chainlink ($LINK) has remained steady above a crucial support level of $13. The cryptocurrency is currently priced at $14.48, with a 24-hour trading volume exceeding $1 billion. 

Despite fluctuations in the broader crypto market, LINK has demonstrated resilience by maintaining its position. Analysts are closely watching its movements, as the coming weeks may provide a clearer picture of LINK’s potential for growth.

Chainlink’s Resilience at $13 Support Level

Chainlink has consistently maintained its position above the $13 support level. This price point is critical, as it has helped stabilize LINK during periods of volatility. The ongoing strength at this level suggests that investors are confident in its ability to recover and build further momentum. 

This support has played a pivotal role in preventing declines and offering stability in uncertain market conditions. According to Bitcoinsensus, if LINK continues to hold above $13, it could potentially see a significant price increase. 

He noted that with broader market support, LINK could reach as high as $46. This outlook suggests that Chainlink has a strong chance of achieving long-term growth if it remains above this critical threshold. 

Grayscale launches Chainlink ETF, seeing strong demand with in net inflows since its December 2 launch.

Grayscale Launches Chainlink ETF with Strong Demand

The launch of the Grayscale Chainlink Spot ETF has brought additional attention to the cryptocurrency. Based on Wise Advice, since its launch on December 2, the ETF has attracted $67.55 million in net inflows. This indicates strong investor interest in $LINK and could further support its price in the future.

Grayscale’s Chainlink Trust ETF, ticketed (GLNK), has gained momentum, offering traditional investors a chance to gain exposure to Chainlink. The ETF is available through brokerage accounts and charges a 0% fee, which could attract more buyers. 

If this trend continues, it could provide the momentum LINK needs to gain more traction in the market, especially as the overall cryptocurrency market begins to show signs of a rally.

Grayscale Chainlink ETF Gains Attention

Meanwhile, This new product allows investors to participate in LINK’s price movements without dealing with the complexities of purchasing and storing the cryptocurrency.