The Chainlink (LINK) market has seen a significant increase in selling pressure with a large influx of 610,000 LINK moved to exchanges in the last 24 hours. This has led to a decrease in the LINK price and could potentially lead to lower prices in the short term. However, some investors see this as a buying opportunity, as spikes in selling pressure have historically been followed by quick recoveries. The recent surge in trading volume and investor interest, along with a breakout from a persistent downtrend, suggests a bullish sentiment for Chainlink. Price targets of $53, $100, and $144 are viewed as feasible, but market participants should remain vigilant of potential retracements. The recent surge in liquidations and increased trading activity on exchanges like Binance and OKX indicate heightened volatility for Chainlink. This could lead to a short-term price decline or a shakeout of over-leveraged positions, depending on whether Chainlink can stabilize and hold key support levels. The $14 level will be crucial in determining the future direction of Chainlink's price.



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