TRUMP

Grayscale

Chainlink

<p>Chainlink price was little changed on Thursday, despite some encouraging news regarding its exchange-traded funds and the ongoing accumulation through its Strategic LINK Reserves.</p>
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  <span>Summary</span>
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   <li>Chainlink price has formed a bullish flag pattern on the four-hour chart.</li>
   <li>The Strategic LINK Reserves assets jumped by 84,309 tokens to over 1 million.</li>
   <li>The Grayscale LINK ETF added assets on Wednesday.</li>
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<p>Chainlink (<a href="https://crypto.news/price/chainlink/" rel="noopener noreferrer nofollow">LINK</a>) was trading at $13.55 today, down from this month’s high of $14.95 and about 17% above its November low.</p>
<p>In a statement, the developers noted that they purchased 84,309 tokens, valued at about $1.3 million. The purchases brought the total assets in these <a href="https://crypto.news/chainlink-expands-strategic-reserve-with-43937-link-tokens/" rel="noopener noreferrer nofollow">strategic reserves</a> to over 1 million, which is equivalent to over $15.4 million.</p>
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<p>The purchases continued even as the network’s fees fell. Data compiled by <a href="https://defillama.com/protocol/chainlink?tvl=false&amp;revenue=true&amp;groupBy=monthly" target="_blank" rel="noopener noreferrer nofollow">DeFi Llama</a> shows that Chainlink’s fees dropped to $310,280 in November, down from October’s $394,642. It made over $434,516.</p>
<p>Meanwhile, SoSoValue data shows the Chainlink ETF inflows resumed on Wednesday after a two-day pause. Its inflows rose by $2.5 million, bringing the total inflows to over $54 million. The Grayscale LINK ETF now has $77 million in assets, a figure that will likely continue growing.</p>
<p>Chainlink price wavered as the network growth continued. The network’s Cross-Chain Interoperability Protocol (CCIP) is the exclusive bridging solution for all Coinbase-wrapped assets, including cbBTC, cbDOGE, cbLTC, and cbXRP. In a statement, Josh Leavitt, a senior director at Coinbase, <a href="https://www.prnewswire.com/news-releases/coinbase-selects-chainlink-ccip-as-the-exclusive-bridge-infrastructure-to-supercharge-coinbase-wrapped-asset-growth-302638753.html" target="_blank" rel="noopener noreferrer nofollow">said</a>:</p>
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 <p>“We chose Chainlink because they are an industry leader for cross-chain connectivity. Their infrastructure provides a reliable means to expand Coinbase Wrapped Asset offerings.”</p>
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<h2 class="wp-block-heading" id="chainlink-price-technical-analysis">Chainlink price technical analysis&nbsp;</h2>
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  LINK price chart | Source: <a href="https://crypto.news/price/chainlink/" rel="noopener noreferrer nofollow">crypto.news&nbsp;</a>
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<p>The four-hour chart shows that the LINK price has rebounded in the past few weeks, moving from a low of $11.58 in November to the current $13.6.</p>
<p>A closer look shows the token is forming a bullish flag pattern, consisting of a flagpole and a horizontal channel. It is now hovering near the lower side of the flag.</p>
<p>The token has also settled at a strong pivot-reverse point on the Murrey Math Lines tool.</p>
<p>Therefore, the most likely Chainlink price forecast is bullish, with the initial target at the upper channel boundary at $14.95. This target also coincides with the extreme overshoot level. A move above that level will signal further gains toward the psychological level at $20.</p>
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Chainlink price poised to rebound amid LINK Reserve buying spree

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