Hello, cryptocurrency enthusiasts! If you’ve been paying attention to Chainlink (LINK), you’ve probably experienced a bit of a roller coaster lately. Like a magician pulling a rabbit out of a hat, the price of $LINK surprised everyone by surging 21% in just 12 hours. Blink or you might miss it! 🚀
So what is the topic? Well, Twitter is buzzing like a beehive about this sudden spike and some people think this is just the beginning of a huge upward trend. According to CoinGlass data, approximately $3.78 million worth of positions were liquidated during this wild ride. It’s like a cryptocurrency version of a Hollywood blockbuster!
You can trade $LINK on Bybit or find Buy it on Binance.
$LINK Price Action
Amid this digital frenzy, Bears betting on $LINK suffered massive losses and gained a whopping $3.38 million worth of futures positions. pop! Meanwhile, long position holders had to part with only $406,000. ouch! 🐻🔥
Now let’s talk about what’s next for our LINK. LINK price chart looks like things are on the good side of life. This bullish momentum is pushing it towards $10. LINK’s current price is $9.09, and if it maintains this pace, it stands to gain 16%. 🌞💰
But here’s the problem. To reach the stars at $15.57, buyers will have to work their magic and turn that resistance into support. It’s like turning a frown upside down! If successful, it will open the door to Rally Town.
If all goes as planned and the weekly candle closes above $15.57, it could rise to $29.12. Fasten your seat belts, everyone! 🚗💨
But life in the cryptocurrency world isn’t all sunshine and rainbows. If this weekend’s surge is just a fluke and people start cashing out their cryptocurrency chips, we could see a sell-off. In this case, a weekly candlestick that would cancel out all of the recent gains and close below $7.69 would basically say, “You idiot!” 🤡
final thoughts
If that happens, it could be back to the drawing board for Chainlink, potentially leading to a 9% correction to $7.03. Ouch, that’s like falling off a bike! 🚲🙈
So here it is, folks. Chainlink has been a very thrilling ride recently, with ups and downs to keep us all entertained. Take a look at this digital gem. You never know what surprise the cryptocurrency world will have in store for us next! 🎢🪙🎉
If you enjoyed this blog, take a look at the last two token updates for $SHIB and $LOOKS.
