$LINK Short Liquidation: $1,308.7K at $23.471
A massive $1.3M short position on Chainlink (LINK) was liquidated at $23.471, indicating strong bullish momentum as sellers were forced to exit.
This could drive further price action in the short term.
Key Details About LINK:
Chainlink is a decentralized oracle network that connects blockchain smart contracts to real-world data.
It’s widely adopted in the crypto ecosystem and has strong market demand.
The liquidation suggests bullish pressure. LINK may test higher levels if buyers remain strong.
However, it could face resistance near key levels before further breakout.
Support and Resistance Levels:
Support: $22.50
Resistance: $25.00
Recommendation:
If LINK stays above $22.50, consider a buy for a potential target of $25.00.
If it falls below $22.50, wait for consolidation before entering a position.
$LINK is showing strength, but keep an eye on volume and sentiment.
Trade wisely with proper risk management.