The post Chainlink price tests key level after Bitwise ETF debut appeared on BitcoinEthereumNews.com. Chainlink price is hovering near the top of its recent rangeThe post Chainlink price tests key level after Bitwise ETF debut appeared on BitcoinEthereumNews.com. Chainlink price is hovering near the top of its recent range

Chainlink price tests key level after Bitwise ETF debut

Chainlink price is hovering near the top of its recent range with traders watching for a decisive move following the launch of the Bitwise Chainlink ETF.

Summary

  • LINK is consolidating as volatility tightens and leverage cools.
  • ETF launch improves access despite short-term trading currently cautious.
  • Technical setup points to a sharp move once range breaks.

LINK was trading around $13.84 at press time, down 1.5% on the day. Despite the dip, the token is still up 3.7% over the past week and more than 8% over the last month, showing steady upward drift rather than sharp momentum.

Spot trading activity has cooled slightly. Daily volume slipped to about $618 million, down 0.4%. Derivatives data tells a similar story. CoinGlass data shows futures volume down 2.8% to $872 million, while open interest edged lower by 0.4% to $668.8 million.

When both metrics fall together, it usually points to traders reducing leverage and waiting for a clearer direction rather than pressing new bets.

ETF launch and fundamentals add context 

The Bitwise Chainlink ETF (CLNK) officially began trading on NYSE Arca on Jan. 14, making it the second U.S. spot ETF offering direct exposure to LINK after Grayscale’s GLNK launch in December.

The fund is physically backed by Chainlink (LINK) held with Coinbase Custody, with BNY Mellon handling cash operations. Bitwise set a 0.34% management fee, waived for the first three months on up to $500 million in assets to encourage early participation.

On its first day, the ETF recorded $2.59 million in net inflows, $3.24 million in trading volume, and a net asset value of $5.18 million. Staking is not supported at this stage.

While the initial inflows were modest, ETF launches often have a delayed impact. They lower the friction for institutions and advisors who cannot access tokens directly, which can slowly improve liquidity and reduce reactive selling during pullbacks.

Beyond the ETF, Chainlink has seen several supportive developments this month. A draft version of the U.S. Digital Asset Market Clarity Act proposes treating LINK as a network token under CFTC oversight, potentially easing long-term regulatory risk. 

Additionally, Chainlink recently introduced Confidential Compute at the protocol level, a feature targeted at institutional and enterprise use cases that permits private off-chain execution with on-chain settlement.

From a technical perspective, LINK is clearly in consolidation mode. Price has been holding between roughly $13.00 and $14.20, forming a tight base after the ETF launch.

Candles have smaller bodies and limited wicks, showing neither buyers nor sellers are pushing aggressively. This type of price action often appears before expansion.

Chainlink daily chart. Credit: crypto.news

Bollinger Bands are now tightly compressed, confirming a low-volatility regime. Prices often move sharply when they break out of the band. 

Momentum indicators lean constructive but not stretched. There is space for follow-through as the relative strength index is close to 58. The average directional index indicates that trend strength is still developing rather than fully established, and the MACD is in positive territory.

Support is clearly defined between $13.00 and $13.20, which corresponds to the 20- and 30-day moving averages. The structure remains intact as long as the price stays above this range on daily closes. A clean break below $13 would likely invite a deeper pullback toward the $12.80 region.

On the upside, resistance sits at $14.00–$14.20. This level has  capped price multiple times and lines up with short-term horizontal supply. A daily close above $14.20, especially with rising volume, would open the door toward $15.00, where the 100-day moving average comes into view.

Source: https://crypto.news/chainlink-price-breakout-volatility-bitwise-etf-2026/

Market Opportunity
NEAR Logo
NEAR Price(NEAR)
$1.1874
$1.1874$1.1874
+3.01%
USD
NEAR (NEAR) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

X allows crypto ads again as X Money beta rollout approaches

X allows crypto ads again as X Money beta rollout approaches

X lifts its ban on paid crypto promotions, allowing influencers to monetize posts as the X Money beta launch approaches.
Share
Cryptopolitan2026/03/02 15:19
XRP Holders Shift to Caution as $650 Million Flows to Binance During Rising Tensions

XRP Holders Shift to Caution as $650 Million Flows to Binance During Rising Tensions

XRP holders moved $650 million to Binance as geopolitical tensions heightened market uncertainty. On-chain data indicates possible short-term price volatility due
Share
Coinstats2026/03/02 14:22
UK Looks to US to Adopt More Crypto-Friendly Approach

UK Looks to US to Adopt More Crypto-Friendly Approach

The post UK Looks to US to Adopt More Crypto-Friendly Approach appeared on BitcoinEthereumNews.com. The UK and US are reportedly preparing to deepen cooperation on digital assets, with Britain looking to copy the Trump administration’s crypto-friendly stance in a bid to boost innovation.  UK Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent discussed on Tuesday how the two nations could strengthen their coordination on crypto, the Financial Times reported on Tuesday, citing people familiar with the matter.  The discussions also involved representatives from crypto companies, including Coinbase, Circle Internet Group and Ripple, with executives from the Bank of America, Barclays and Citi also attending, according to the report. The agreement was made “last-minute” after crypto advocacy groups urged the UK government on Thursday to adopt a more open stance toward the industry, claiming its cautious approach to the sector has left the country lagging in innovation and policy.  Source: Rachel Reeves Deal to include stablecoins, look to unlock adoption Any deal between the countries is likely to include stablecoins, the Financial Times reported, an area of crypto that US President Donald Trump made a policy priority and in which his family has significant business interests. The Financial Times reported on Monday that UK crypto advocacy groups also slammed the Bank of England’s proposal to limit individual stablecoin holdings to between 10,000 British pounds ($13,650) and 20,000 pounds ($27,300), claiming it would be difficult and expensive to implement. UK banks appear to have slowed adoption too, with around 40% of 2,000 recently surveyed crypto investors saying that their banks had either blocked or delayed a payment to a crypto provider.  Many of these actions have been linked to concerns over volatility, fraud and scams. The UK has made some progress on crypto regulation recently, proposing a framework in May that would see crypto exchanges, dealers, and agents treated similarly to traditional finance firms, with…
Share
BitcoinEthereumNews2025/09/18 02:21