$LINK Long Liquidation Alert!
A $7.4782K long position was liquidated at $29.301,
signaling selling pressure as buyers failed to hold their ground. Here's what this means and what could happen next:
What’s Happening?
Long Liquidation: Indicates sellers are in control, forcing leveraged positions to close.
Bearish Momentum: Price could face further downside unless buyers step in strongly.
Key Levels to Watch
Resistance: $30.00 – A crucial level to reclaim for bulls.
Support: $28.50 – Watch for strong buyer activity here.
What’s Next?
For Long-Term Holders: Stay cautious; the trend needs confirmation before re-entry.
For Traders:
Look for price stabilization near $28.50 before entering.
Set a stop-loss to minimize risks during volatile moves.
Market Context
Further liquidations could intensify the downtrend. Monitor trading volume and broader market sentiment for clarity.
#LINK needs to regain momentum—watch closely for the next move!