Will LINK Break Free or Just Keep Chasing its Tail? Traders Bet Big, But Risks Lurk!

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Key Takeaways

  • Chainlink’s bullish structure faces a crucial test at $17.50. Spot market dominance and rising Open Interest support the rally, while on-chain metrics like MVRV and NVT scream “Don’t get too excited!” Caution is advised near resistance.

Ah, Chainlink [LINK], the little engine that could… sort of. It’s been grinding upwards, forming a bullish structure as it meanders towards a critical resistance at $17.39. Like that kid in school who always tried to break the rules but never quite made it, LINK has tried, and failed, to break through this barrier before.

After reclaiming the mid-range at $15.90, LINK has been on a roll, forming higher lows and highs. At press time, it’s sitting pretty at $16.59, just teasing that resistance level like an overconfident teenager at prom.

So, what now? Will this retest of the resistance result in a breakout or yet another faceplant?

Can sustained spot demand drive LINK above its resistance wall?

Look at that Taker Buy Volume Dominance, baby! It’s a strong show of bullish power, with a positive Spot Taker CVD over the last 90 days. Buyers are outpacing sellers, but don’t get your hopes up just yet. Just because the bulls are winning today doesn’t mean they’re guaranteed a victory lap tomorrow. Without a sudden spike in activity, momentum could lose steam.

Still, it’s clear: there’s some serious demand pushing LINK upwards. Will it be enough to crush that resistance? Or will the market play hard to get?

Do THESE ratios suggest overheated conditions?

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What does the flip in funding say about market sentiment?

Funding Rates have flipped positive—finally! It’s like traders are suddenly feeling more confident about the future, but let’s not get ahead of ourselves. Sure, traders are willing to pay a premium to stay long, but that could come back to bite them if the price stalls. Liquidation pressure is always lurking around the corner like that one relative who never brings anything to the family reunion.

Is rising Open Interest fueling momentum or raising volatility risks?

Open Interest has jumped a solid 8.47%, and derivatives traders are participating in droves. This surge shows that speculative appetite is strong. But don’t be fooled—more participation means more potential for chaos. If too many over-leveraged positions get liquidated, we could see some wild price swings. Buckle up, it’s going to be a bumpy ride!

The Binance Heatmap reveals some interesting tidbits—liquidations clustered just below the $17 zone. If LINK breaks or rejects here, it could trigger a domino effect of rapid price movements. Just when you thought things were calm… surprise!

Can LINK break free, or will the range trap persist?

LINK is flexing its muscles as bulls push towards that key $17.50 resistance. The market indicators are showing bullish potential, but on-chain metrics and liquidation zones suggest a possible setback. Will LINK break free from its range, or will it be caught in the same old trap? Stay tuned, because the drama is just getting started.

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2025-07-17 03:11