Digital Asset Manager Bitwise is preparing to launch a funds exchanged by the place -based exchange (ETF) Focused on handling the native token of the chainlink first in the US
According to S-1 registration statement Filed with the US Securities and Exchange Commission on Tuesday, the Bitwise Chainlink ETF aims to provide direct exposure to investors in linked and named Coinbase’s preservation as a proposed career for tokens.
File fits into a greater trend of asset managers Looking In Launch Altcoin focuses ETFs spot in the US while regulatory headwinds retreated under the Trump administration, following Bitcoin’s success and Ether (Et) vehicles.
The link has booked 5% from overnight lows in the news, but still dropped 1.6% in the past 24 hours, per CoinDesk data.
Despite the rebound, CoinDesk Research’s technical examination model suggested that the bearish pressure suggested for the link because the crypto market passes through a period of inclusion.
The link has encountered a large downward pressure in the past 24 hours, falling from a session peak of $ 24.81 to a low $ 22.90.
A well-known recovery effort emerged during the period 10: 00-11: 00 UTC, which at the same time filing the ETF, as the price rally from $ 23.02 to $ 23.54 to the increased volume of 3.35 million units, indicating the possible integration above the important $ 23.00 psychological threshold.
The model suggested that reclaiming a level of $ 24.00 is key to stop bearish momentum, while recent rebounds indicate oversold conditions can attract investors looking for value.
Technical indicators point to the descending momentum
- Price declined 4.67% from $ 24.61 to $ 23.46 in the last 24 hours from August 25:00 to August 26 11:00 UTC.
- Trade range of $ 1.84 between a maximum of $ 24.81 and a minimum of $ 22.90.
- The volume has risen to 6.58 million units, which is more than a 24 -hour average of 2.29 million.
- Strong resistance established around $ 24.30 with support near $ 23.00.
- Failure to re -earn $ 24.00 indicates constant emotion.
- Break below $ 23.40 Support level suggests an additional risk of falling towards $ 23.00.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
