$LINK Long Liquidation: $15.322K at $28.374!

Details:

Liquidation Type: Long Position

Amount Liquidated: $15.322K

Liquidation Price: $28.374

What Happened?

Chainlink (LINK) faced a sharp drop in price, triggering a liquidation of long positions.

Traders who expected further price increases were forced to exit their positions as the market turned against them.

What’s Next?

1. Key Levels to Watch:

Resistance Zone: $29.00 – A level where LINK could face more selling pressure.

Support Zone: $27.50 – Watch for potential support in this area for a bounce.

2. Market Sentiment:

Bearish Reversal: The liquidation indicates potential bearish sentiment.

Next Target: If the price fails to hold at $27.50, we could see further downside towards $25.

3. Strategies for Traders:

For Bulls: Wait for confirmation of support at $27.50 before considering long entries.

For Bears: If the market fails to reclaim $28.50, look for short opportunities with a target at $25.

Conclusion:

LINK’s long liquidation signals a possible bearish correction.

Watch for key support and resistance zones to gauge the next move in the market. Stay cautious and monitor price action closely!

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