A $4.96K LONG liquidation was triggered at $12.317, forcing bullish positions to close and adding short-term downside pressure. Long liquidations often accelerate pullbacks when key support levels fail to hold.
With longs flushed, $LINK is now trading around an important reaction zone. If sellers maintain control and volume confirms weakness, price may extend lower. A reclaim above the liquidation level could lead to stabilization or a short-term bounce.
Trade Setup – $LINK
EP: 12.30 – 12.50
TP1: 11.90
TP2: 11.40
TP3: 10.80
SL: 12.85
Liquidations reset positioning — let price action confirm direction.
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