As of the 8th of July, traders appeared to have a bearish market outlook, betting heavily, per on-chain analytics tool CoinGlass.
Traders were over-leveraged at $12.99 on the lower side (support) and $13.83 on the upper side, levels where strong interest has been observed.
On-chain data showed that traders have built $5.87 million worth of long positions and $8.64 million worth of short positions. Thus, LINK was currently bearish and looked poised for a price drop.
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