Chainlink Price Jumps 18% on First LINK ETF Launch, Targets $47

Chainlink (LINK) Price surged 18%, trading near $14.38. The uptrend came right after the launch of the first U.S. Chainlink ETF.

Crypto analysts are also noticing early breakout signs on the chart and believe LINK could be gearing up for a strong rally toward $47.

Grayscale Launches First US LINK ETF

On December 2, Grayscale launched the first U.S. ETF fully focused on Chainlink under the ticker GLNK. The ETF began trading on NYSE Arca with 0% fees at launch, making it easier for investors to get regulated exposure to LINK.

Meanwhile, data from SoSoValue shows strong demand on launch day, as trading volume surged to $13.81 million, while early inflows reached nearly $43 million

With Coinbase as custodian and access on platforms like Fidelity and Robinhood, Chainlink is getting more attention from big investors. 

Chainlink’s role in powering real-world data, smart contracts, and cross-chain tools makes it easier for traditional investors to see its value, boosting overall market sentiment.

Chainlink Forming A Rare Breakout Pattern

While the ETF is boosting interest, the chainlink chart is telling its own bullish story. Crypto analysts altcoin pioneer, highlight a 4-year descending wedge, a pattern known for strong breakouts after long compression. 

Link token price recently bounced from the key $12.50 support level, indicating that buyers are active.

Momentum indicators are also improving, with the RSI showing a bullish divergence and sitting near the neutral 53 level, signaling growing strength. 

With these signals lining up, LINK is now positioned for a potential move toward the $18–$20 resistance zone, a key area that has rejected several attempts in the past.

Chainlink Long-Term Outlook for Year-End

Adding to the bullish outlook, well-known crypto analyst Ali Martinez says Chainlink has reached a crucial long-term support trendline. He believes this level could act as a launchpad for a strong move toward $26 and possibly even $47 before the year ends. 

With institutional inflows rising, a new ETF giving traditional investors easier access, and technical signals aligning for the first time in years, Chainlink is heading into December with powerful momentum behind it.