$LINK Major Shakeup in #LINK: $220K Liquidated at $16.42!
In a shocking move, $220K in LINK long positions were wiped out at $16.42, highlighting the volatility in the market. With this massive liquidation, the bulls are clearly losing their grip on Chainlink as selling pressure intensifies.
Key Details:
⚡ $220K in Long Liquidations shows the fragility of the recent price action.
⚡ $16.42 has proven to be a critical support zone for LINK, but the strong liquidation suggests we might be heading for a potential pullback.
⚡ Bearish momentum could push LINK further down if $16.20 fails to hold.
Looking Ahead:
🔹 Immediate outlook: The market is testing lower support, with $16.20 as the key level to watch. If it breaks, expect a move towards $15.50.
🔹 If $16.42 fails to regain strength, shorts may be the favored play, targeting a deeper pullback.
🔹 However, if $16.50 acts as support and buyers step in, we could see LINK attempt a recovery toward $17.00.
Next Move: Hold your positions with
caution. The market's direction will
depend heavily on whether support at
$16.20 holds. If it does, we could see
a bounce; otherwise, further downside
could follow. Keep an eye on key
levels and manage risk carefully!
#CryptoSignals #LINKTrading