Chainlink short sellers face $12 million risk if price returns to $15

Chainlink (CRYPTO:LINK) is currently experiencing volatility around the $13 to $14 range, prompting cautious trading strategies among investors.

Recent bullish momentum has seen LINK's price rise by 7.72% in the last 24 hours, potentially signaling further upward movement towards $15.

If LINK surpasses $15.62, short positions totaling $12.56 million could face liquidation, highlighting significant risk for bearish traders.

Technical indicators, including a double-bottom pattern on the daily chart and improving Relative Strength Index (RSI), suggest a possible uptrend towards $17.73 if bullish momentum continues.

However, the market's direction remains sensitive to Bitcoin's performance and broader economic factors.