$LINK Update: Bulls Eyeing a Breakout?

Recent Action:

Short Liquidation: A total of $7.3111K was liquidated at $30.235.

What this means: Traders betting on a price drop were forced to exit their positions as $LINK climbed higher. This suggests that bullish momentum is building.

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What’s Next for $LINK?

Buy Zone

$29.00–$29.50: This range could serve as a solid re-entry point if $LINK sees a minor pullback.

Look for confirmation of support within this zone before entering.

Targets (Profit Levels)

1. $31.50 – Immediate resistance level where some profit-taking might occur.

2. $33.00–$34.00 – A critical breakout zone; breaking this could attract more buyers.

3. $36.50 – Extended target if bullish momentum sustains.

Stop Loss

Place your stop loss below $28.50 to limit downside risk.

This ensures you protect your capital in case of unexpected market reversals.

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Market Sentiment Insights

1. Liquidation Chain Reaction: If continues upward, more short positions might get liquidated, fueling further price increases.

2. Volume Confirmation: Monitor trading volume. Higher volume near $30.50 could confirm strong buyer interest.

3. Macro Factors: often rallies with broader crypto momentum. Watch Bitcoin ($BTC) and altcoin trends for directional clues

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