Chainlink (LINK) is consolidating near $14, with potential for a breakout as volatility compresses. The recent launch of Bitwise's LINK ETF on NYSE Arca marks the second U.S. spot ETF offering direct exposure to LINK, following Grayscale's December launch. The ETF, backed by LINK held through Coinbase Custody, recorded $2.59 million in net inflows and $3.24 million in trading volume on its debut. Despite a 0.5% daily decline, LINK maintains a weekly growth rate of 3.7% and an 8% increase over the past month. Technical indicators suggest potential growth, with the Relative Strength Index at 58 and a positive MACD. Resistance is noted between $14.00 and $14.20, with support at $13.00 to $13.20. A breakout above resistance could push LINK to $15.00, while a drop below $13.00 may trigger a pullback.
Chainlink Poised for Breakout as Bitwise LINK ETF Debuts on NYSE Arca
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