according to the materials from the site - CryptoFrontNews

Chainlink (LINK) is currently holding around $24.20, demonstrating high resilience despite market fluctuations. The recent price stabilization occurs against a backdrop of significant growth in institutional investor interest in the project. A key factor supporting this confidence is Bitwise's registration to create a special Chainlink ETF, which will make the token more accessible to traditional financial markets. ETF approval could become a turning point for Chainlink, especially given the growing interest from institutional investors in crypto assets.

The application of the Chainlink ETF by Bitwise is extremely important, as it demonstrates the growing desire of institutional investors for direct access to LINK. Unlike previous ETF applications submitted by other products that included various assets, Bitwise is betting on Chainlink. This will simplify access for institutional investors by eliminating the need to manage separate tokens. The launch of the ETF will be a transitional stage between traditional finance and the world of cryptocurrencies, which will increase LINK's recognition.

From a technical perspective, the Chainlink price is comfortably supported at $24, which is close to the Fibonacci retracement levels. The Money Flow Index (MFI), which measures the inflow of money into the market, is in an upward trend, indicating strong buying pressure. Currently, the price dynamics are constrained by a wedge, which in the past has shown significant price movement after its breakout. The resistance level is also at $28, and as further accumulation is awaited, the price may rise above this mark and trigger further growth.

Chainlink USD support levels at $18.82 and $12.80 also maintain their positions, creating a solid foundation for price growth. As long as the price remains above the $20 mark, it has a high chance of reaching $31.57. Increased interest from institutional investors and the upcoming ETF approval further reinforce confidence in LINK's growth potential.

Once these important resistance zones are overcome, the next target will be the $100 mark, which will ultimately become quite achievable as market structures continue to grow.

$BTC, $XRP, $BNB

#Cryptomarketnews, #TrumpTariffs

Here, in one news feed, we collect and publish the latest news from more than a dozen news sites and print publications, and sometimes simply share our observations on market trends. As well as news related to changes in the cryptocurrency market and global financial changes!!!

Welcome to us! There is enough news for everyone!!! 😉