Chainlink ETF Approved — Is LINK on Track for a Break Toward $30?

A major milestone has been reached as the chainlink exchange-traded fund receives the green light. This move has triggered considerable excitement in the crypto space. Could this approval propel LINK to a significant price surge? The article delves into potential growth coins and explores if LINK is set to make a remarkable upward move.

Chainlink Edges Higher Amid Market Volatility

Source: tradingview 

Chainlink (LINK) is navigating a price range between around $12.30 and $13.60. Despite recent setbacks, such as a nearly 29% drop over the past month, LINK is showing a slight upward momentum. The current support stands at about $11.70, offering a safety net, while the nearest hurdle is near $14.20. If it breaches this point, the next goal lies just above $15.40. This indicates a potential price increase of over 13% if it climbs from its current range to this next resistance level. However, with its relative strength sitting at a neutral 51.58, LINK seems poised for a gradual recovery rather than explosive growth in the coming weeks.

Conclusion

The approval of the Chainlink ETF might boost LINK's standing in the market. High interest in the token could lead to a surge in its value. With growing momentum, there is potential for LINK to reach toward $30. Investors' interest and market performance will be key factors. Monitoring these elements could provide clearer insights into LINK's trajectory.

 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.