Chainlink Price Holds Key Levels as ETF Inflows Rise
Chainlink (LINK) is drawing closer attention from traders as its price prediction searches rise. The cryptocurrency is currently trading at $14.240, with key levels determining its next move. A 1-hour close above $15.780 could push LINK to $21.500, while a close below $13.160 might open a path to $12.041.
Recent data shows Chainlink's market cap at $10.64 billion, with futures volume at $381.44 million and spot volume at $78.09 million. Open interest stands at $733.31 million, indicating moderate leverage in the market. An unverified report suggests that spot Chainlink ETFs saw $8.3 million in inflows over the past five trading days, marking their best week since August.
Technical analysis reveals LINK trading within an ascending channel on the 1-hour chart. The price has stabilized after a sell-off on October 3, with the RSI divergence at 59.10, suggesting a slow, steady climb rather than a sharp surge. The bullish scenario depends on a close above $15.780, while a close below $13.160 would invalidate the bullish outlook.
Futures volume is about 4.9 times spot volume, and open interest represents roughly 6.89% of the market cap. The narrow channel presents risks, as a breakout in either direction could fail quickly. Additionally, 251.91 million coins, or 25.19% of the supply, remain outside circulation, adding another layer of uncertainty.