$LINK (Chainlink) – Short Liquidation
For Chainlink (LINK), the short liquidation occurred at $40.4K at a price of $13.11. Given this, the entry point for a short position would be around $13.11, with a target of $12.50 for the first level and $11.80 as a secondary target. To manage risk, set a stop loss at $13.60. The short liquidation at this price suggests strong resistance, and there’s potential for a short-term pullback. Watching for volume increases and confirming price action towards the targets is key. If the price struggles to break below $13.00, it may be worth reassessing the short position. Additionally, keep an eye on the broader market conditions, as LINK often correlates with Bitcoin and other altcoins, which can impact its movement.
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