Hey there, crypto enthusiasts! If you’ve been keeping an eye on Chainlink (LINK), you might have been in for a bit of a rollercoaster lately. The $LINK price, like a magician pulling a rabbit out of a hat, surprised everyone by shooting up 21% in just 12 hours. Blink, and you might have missed it! ?
So, what’s the buzz all about? Well, Twitter has been buzzing like a beehive about this sudden surge, and some folks think it’s just the beginning of a grand uptrend. According to the CoinGlass data, during this wild ride, roughly $3.78 million worth of positions were liquidated. That’s like the crypto version of a Hollywood blockbuster!
You can leverage Trade $LINK on Bybit, or you can spot Buy it on Binance.
The $LINK Price Action
Out of this digital frenzy, the bears, the guys betting against $LINK, got the short end of the stick, with a whopping $3.38 million worth of futures positions going poof! On the other hand, the long position holders only had to part ways with $406,000. Ouch! ??
Now, let’s talk about what’s next for our dear LINK. The LINK price chart looks like it’s on the sunny side of life. With this bullish momentum, it’s making its way toward $10. The current price of LINK is $9.09, and if it keeps up the pace, it could be in for a 16% gain. ??
But here’s the catch – to reach for the stars at $15.57, buyers need to work their magic and turn that resistance into a support floor. You know, like turning a frown upside down! If they succeed, it’s like opening the door to a rally town.
If everything goes according to plan, and we see a weekly candlestick close above $15.57, we could be on a road trip to $29.12. Fasten your seatbelts, folks! ??
But, life isn’t all sunshine and rainbows in the crypto world. If this weekend’s surge was just a fluke, and people start cashing in their crypto chips, we might see a sell-off. In that case, a weekly candlestick that undoes all the recent gains and closes below $7.69 would basically say, “Fooled ya!” ?
Final Thoughts
If that happens, it’s back to the drawing board for Chainlink, and a potential 9% correction down to $7.03. Ouch, that’s like falling off a bike! ??
So, there you have it, folks. Chainlink’s been quite the thrill ride lately, with ups and downs that are sure to keep us all entertained. Keep an eye on this digital gem; you never know what surprises the crypto world has in store for us next! ???
If you enjoyed this blog have a look at our last 2 token updates on $SHIB and $LOOKS
