Derived from TheMarketPeriodical, Chainlink (LINK) is forming a falling wedge pattern on the daily chart, with a potential bullish breakout expected as it approaches a key support level. Grayscale is set to launch its LINK Spot ETF (GLINK) next week, following the XRP and DOGE ETFs. The supply of LINK on exchanges has dropped by 30% to 212.7 million, the lowest in months. The token is currently trading at $12.46, down from a year-to-date high of $27.82. Technical indicators like RSI and PPO are nearing oversold levels, suggesting a possible rebound. A breakout above $15 could target $17.97. Bitwise is also expected to launch its Chainlink ETF soon. The futures open interest has fallen to $528 million from $1.6 billion in August.
Chainlink Price Prediction and GLNK ETF Launch on November 25
TheMarketPeriodicalShare
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