Chainlink Price Could Soar to $15 as ETF Listing Nears

Chainlink price has seen a slight increase of 1.0% over the past 24 hours. The cryptocurrency is currently maintaining momentum above the $12 mark and is targeting the $15 level, following an optimistic upward trend.

With a trading volume of $671.99 million, up 15% in the last day, Chainlink is gaining attention due to the anticipated launch of the Chainlink ETF. 

This positive outlook is reflected in the broader crypto market, with Bitcoin, Ethereum, and Solana also a slight gains. Investors are hopeful that the ETF listing could further boost Chainlink’s price.

Grayscale’s Chainlink ETF Could Launch Next Week

Chainlink will launch the first-ever Chainlink spot ETF, which is named as $GLINK, which will begin trading next week, and Grayscale will possibly launch the product on December 2.

This is a significant milestone of Chainlink that will provide institutional investors with a controlled means of exposure to $LINK and not necessarily holding the crypto asset

The ETF provides an opportunity to raise new capital flows of pension funds, business treasuries, and asset managers, providing a new structure of investment opportunities to the interested ones. This action could trigger institutional enthusiasm in the crypto market, according to Grayscale.

Chainlink Price Bulls Eye $15 Resistance Level Ahead

As of the reporting time, the LINK price pumped at $13.02, marking a 2.20% increase over the previous period. 

On the upside, $14.00 remains a strong resistance level. If LINK price pushes past this level, a move towards $15.00 is possible, as the future Chainlink price outlook.

The Moving Average Convergence Divergence (MACD) indicator, as the chart shows, shows a small positive momentum. The MACD line has also broken over the signal line, indicating that the market sentiment is becoming bullish.

This is also corroborated by the histogram that has entered into the green region, though the momentum is not very high with the MACD at 0.07.

Source: LINK/USD 4-hour: Tradingview

The Relative Strength Index (RSI) is currently at  57, which means that Chainlink is in the neutral and slightly bullish region.

If the Chainlink price drops below $12.00, the next key support level is at $11.50, where buying pressure could emerge.

Source: https://coingape.com/markets/chainlink-price-could-soar-to-15-as-etf-listing-nears/