Chainlink has been on a strong run in the past few hours, with LINK surging nearly 6% intraday. It is now hovering around $14.20, approaching the key level of $15. It has been consolidating between $13 and $15 recently, with active buying at the lows, and every dip being met with buyers, indicating strong market confidence.

More interestingly, Bitwise has just received approval to launch a LINK ETF on NYSE Arca, which is a big deal. Institutional investors tend to trust such products more, and their confidence is rising rapidly. Once this ETF starts to attract real capital flow, it will significantly boost demand for LINK.

From a technical perspective, if trading volume increases further and the price successfully breaks above $15, the upside potential will open up. Currently, the chart suggests that after surpassing $15, the price could aim for $18, with a further target of $21. The candlestick patterns on the chart also look quite strong; once a confirmed breakout occurs, it could trigger a substantial rally.