Market Surge: $LINK Short Liquidation of $11.077K at $20.337 – Bulls Take the Lead
A major short liquidation worth $11.077K occurred at $20.337, signaling a powerful shift in momentum.
The forced buyback of short positions has sparked a surge in price, putting pressure on bears and setting the stage for more volatility.
With $20.337 now acting as a crucial support level, the market is poised for either a continuation of the rally or a potential correction.
Key Details:
Liquidation Amount: $11.077K
Liquidation Price: $20.337
Market Sentiment: Bullish in the short term, but caution is advised as volatility increases.
Next Moves:
For Longs:
Entry: Above $20.50, confirming the continuation of the bullish trend.
Targets:
Initial target: $21.00 (next resistance level).
Secondary target: $21.50 (strong resistance zone).
Stop Loss: $20.00 to manage downside risk.
For Shorts:
Entry: Below $20.00, if bearish momentum starts to build.
Targets:
Initial target: $19.50 (support level).
Secondary target: $19.00 (major support).
Stop Loss: $20.60 to protect against a potential rally.$LINK
The $20.337 level is pivotal for both bulls and bears.
Watch for signs of further upward momentum or a bearish reversal, and trade accordingly.