$LINK Bulls Crushed: Major Long Liquidation Hits the Market!
A significant $4,837.3 in long positions was liquidated at the critical price of $24.521.
This sharp move signals intensified selling pressure and a potential shift in momentum, leaving traders on edge.
Key Details to Watch:
1. Support Breakdown: The $24.50 level, previously acting as support, has been breached, opening the door for further downside.
2. Increased Volatility: Liquidations of this magnitude often indicate heightened uncertainty and aggressive market action.
3. Bulls Under Pressure: Long traders face losses as sellers gain the upper hand.
Suggested Next Move:
For Short Sellers: Watch for continued selling pressure. Consider targeting the $24 or $23.80 levels, but set tight stop-losses in case of a reversal.
For Long Traders: Avoid catching falling knives—wait for a clear bounce above $24.50 with strong volume before entering.
For Swing Traders: Capitalize on the volatility by trading within key levels, focusing on quick entries and exits.
$LINK is in the hot seat—brace for more action as the market determines its next direction!
