$LINK A recent short liquidation of $1.568K at $24.25 signals strong upward pressure, as traders betting against the price increase got liquidated. This means bullish momentum could be dominating the market. Here’s a detailed breakdown of what could come next for $LINK, including key levels for trading.

Current Market Sentiment. Bullish.

The liquidation at $24.25 suggests that resistance at this level is being broken or tested repeatedly. This may open doors for further upward movement. However, careful attention is needed to ensure a clear breakout or a potential pullback.

Trading Plan for $LINK

1. Buy Zone.

$22.50 to $23.00

This zone is ideal for buying if $LINK retraces. The support around these levels aligns with previous consolidation and could act as a strong bounce point.

2. Targets

Target 1. $25.50

This level is a short term resistance where traders may start taking profits.

Target 2. $27.00

A medium term target if bullish momentum continues.

Target 3. $30.00

A long term target that could be achieved if $LINK breaks past major resistance zones.

3. Stop Loss.

Place your stop loss around $21.75.

This level is slightly below the support zone, ensuring minimal loss if the price trend reverses.

Key Indicators to Watch.

1. Volume.

Increased volume at breakout levels above $24.25 will confirm the bullish trend.

2. RSI Relative Strength Index.

If RSI moves above 70, the asset may be overbought, signaling caution for new entries.

3. Support and Resistance Levels.

Watch $22.50 and $23.00 as strong support, while $25.50 and $27.00 are resistance zones.

Risk Management Tips.

1. Only invest what you can afford to lose.

2. Consider taking partial profits at Target 1 or Target 2 to secure gains.

3. Keep an eye on Bitcoin and Ethereum trends, as they often influence altcoins like.

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