Will Chainlink (LINK) Price See Bullish Sentiment With This Confidence Boost?
The post Will Chainlink (LINK) Price See Bullish Sentiment With This Confidence Boost? appeared on BitcoinEthereumNews.com.
Social sentiment surrounding Chainlink and its native cryptocurrency, LINK, has surged over the last 24 hours. This was not surprising considering LINK’s price prospects, as well as Grayscale’s recent comments about Chainlink’s importance. LINK price received a substantial discount over the last few months as liquidity exited the markets. For context, the cryptocurrency tanked as low as $11.60 on Friday, which was equivalent to a 57% discount from its highest price point in 2025. LINK price action/ source: TradingView Interestingly, it’s low on Friday also marked the first time that LINK price was oversold since March this year. However, this was not its lowest price point this year. That courtesy goes to the 10 October crash, which saw the price retreat as low as $7.9. Nevertheless, this latest price correction pushed LINK price to yet another retest of its long-term ascending support line. LINK price previously bounced off the same support line on multiple occasions. Bullish expectations may thus stem from this retest, but it may not be the only reason behind the rising hype. Grayscale Injects Confidence for LINK Investors Investment management company Grayscale recently described Chainlink as an essential infrastructure for the tokenized segment. According to Grayscale, the protocol’s unique position as an oracle services provider means it plays an essential role in the data pipeline for the decentralized world. Grayscale’s statement about Chainlink highlights a potential reason why LINK could be one of the attractive coins to investors. Especially now that crypto investors are looking for value cryptocurrencies to buy at recently discounted prices. Moreover, Grayscale already has a Chainlink trust, through which it provides its investors with exposure to LINK. Moreover, LINK was one of the cryptocurrencies with healthy ETF prospects, especially now that the ETFs narrative has been picking up the pace. Aside from the…
