Crypto News: Grayscale Spot ETF Launch Pushes Chainlink Toward Recovery

Grayscale’s new GLNK product boosts interest in Chainlink as LINK holds key support and eyes a potential recovery toward higher levels.

Chainlink is showing signs of recovery after Grayscale introduced GLNK, the first U.S. Chainlink exchange-traded product. The move brought new market attention to the asset as LINK held above $12 and attempted to build momentum toward higher resistance levels.

Grayscale Introduces New Chainlink ETP on NYSE Arca

Grayscale launched GLNK on NYSE Arca, and the product allows investors to gain exposure to Chainlink in a regulated format. The company offered the product with zero fees, so interest grew quickly among traders seeking a simple access point.

The launch came after a month of market weakness, and it arrived during a mild rebound across major cryptocurrencies.

GLNK is not a standard 40-Act ETF. It uses an ETP structure that still gives investors a familiar experience. The product adds Chainlink to the group of assets Grayscale has targeted with new investment vehicles.

Grayscale said the approval marked growing interest in the Chainlink network.

The company noted that institutions continue to look for regulated ways to enter the market. Chainlink supporters expect the new product to attract more capital as awareness expands.

LINK Holds Above Key Support as Trading Volume Rises

Chainlink traded near $13.29 on the 4-hour chart, holding its gains after a sharp bullish swing from the $12.00 region. The price reclaimed several key Fibonacci levels, including the 0.618 and 0.786 zones, which now act as short-term support.

LINK is now testing the upper boundary of a recent supply zone near $13.40–$13.60.Technical indicators point toward rising momentum.

The MACD shows a clear bullish crossover as the MACD line moved above the signal line, and the histogram turned green. This shift appeared after a strong impulse candle lifted price from the $11.80 area to above $13.00 in one move.

Chainlink rebounds toward resistance as momentum rises on the 4-hr chart. Source- TradingView.The RSI sits around 60, and this reflects steady buying without showing overbought conditions.

The level suggests that buyers remain active while leaving room for further movement. If LINK continues to hold support near $12.89 and $12.65, the price may attempt another push toward $13.60 and then toward the next resistance levels above this zone.

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Market Watches Support at $12 as Bulls Aim for Higher Levels

Bitcoin moved above $88,000 during the same period, and other major assets saw small gains. The rise helped support LINK because traders often respond to broad changes across top crypto markets. The increase in trading volume also suggested that more buyers were returning.

Chainlink traders are now watching the $12.00 support level. If buyers hold that zone, LINK may attempt to reach $14.00 and $16.00. These areas match earlier levels where sellers paused previous rallies.

If bears take control, LINK may fall back toward $12.00 and then toward $11.00. Traders said these levels will decide whether the recent recovery can continue. The next sessions will show how much of the new interest from GLNK translates into further price movement.