Markets
What to know: 🧙♂️
- LINK, the mischievous token, leaped 7% to $14.40 on Wednesday, proving that even in the crypto realm, higher lows are a delight! 🎩💰
- Grayscale’s spot Chainlink ETF, a magical box, welcomed $37 million in net inflows on Tuesday-because who doesn’t love a treasure chest? 🧾
- Volume surged 183% above average, like a dragon’s fiery breath, testing $14.63 resistance with a wink. 🔥
Oh, what a day for Chainlink’s native token, LINK! It soared 7% over the past 24 hours, outpacing the broader crypto market like a squirrel racing a train. 🐿️⚡
The Grayscale Chainlink Trust ETF (GLNK), once a closed-end fund, now dances on NYSE Arca, welcoming $37 million in net inflows on its debut. A milestone for institutional giants, who finally found a way to play with tokens without getting their hands dirty. 🤝
Trading activity? A wild party! Volume jumped 183% above average, peaking at 6.71 million tokens traded at 14:00 UTC. LINK briefly hit $14.63, then playfully retreated-like a shy fairy. 🦋
Despite the rejection at session highs, LINK maintained an ascending trendline, logging consecutive higher lows. A true underdog story, proving that even in the crypto world, persistence pays off. 🦸♂️
LINK outperformed most top-20 cryptocurrencies, aided by the ETF catalyst and a broader rotation into tokens with clear utility narratives. The CoinDesk 5 Index also rose 3.3%, but LINK’s gains were a dazzling 4 percentage points ahead. 🌟
Key technical levels to watch: 🧭
- Support/Resistance: Support holds at $14.28, with psychological backing at $14.40; resistance at $14.63. Like a bridge between dreams and reality. 🌉
- Volume Analysis: 183% volume surge at session high signals institutional participation-because even giants need to party. 🎉
- Chart Patterns: Consolidation between $14.395-$14.445 could form a launchpad for renewed breakout. A rocket ready to blast off! 🚀
- Targets & Risk/Reward: Near-term target at $14.63, with broader upside possible if buyers hold above $14.28. A gamble worth taking, if you’re feeling lucky. 🎲
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2025-12-04 01:35