LINK Price Breakout Imminent as Smart Money Positions Heavily Long

The price of Link (LINK) has been stuck at $8.33 for some time, but traders are positioning themselves long in anticipation of a breakout.

According to derivatives data, top traders on Binance are 66.4% long against 33.6% short, indicating a significant bet on the cryptocurrency's price increasing.

The taker buy/sell ratio is also highly in favor of buyers, with a ratio of 1.98 and buy volume outpacing sell volume by over two to one.

With the smart money positioning strongly long and the derivatives data suggesting a potential breakout, analysts are predicting that LINK could reach $8.73 within 48 hours if it can break above the current resistance level at $8.40.