Chainlink Price Forecast: $46 Target as Whale Purchases and ETF Inflows Increase

Price Target for Chainlink: An expert has set a bullish price target of $46 for Chainlink (LINK), suggesting that if it maintains its current support level of $13, a strong rally could follow.

Launch of Chainlink ETF: Grayscale has launched its first Chainlink ETF, trading under the ticker GLNK, which attracted $42 million in inflows on its first day, indicating strong investor interest.

Market Trends and Predictions: The price of Chainlink has shown a notable increase of 7.6% over the past week, and technical analysis suggests that if it holds above the $13 support, it could lead to significant upward movement.

ETF Structure and Risks: The GLNK ETF directly holds Chainlink's native token, providing investors with exposure to the project, but it carries higher risks compared to traditional ETFs, as noted by Grayscale.