$GALA Short Liquidation just erupted
Liquidation Amount $1,604.2
Liquidation Price $0.03649
What Happened
The price spiked beyond $0.03649 wiping out over $1.6K in short positions. This sudden upward surge caught bearish traders off-guard, forcing rapid liquidations.
Key Market Insights
Trigger Event A strong price rally broke through key resistance, sparking short liquidations
Market Impact Possible continuation of bullish momentum as confidence grows among buyers
Whale Involvement Large buy orders may have driven the spike, hinting at potential market manipulation or bullish sentiment.
What’s Next
For Long Traders This could signal sustained upward movement watch for key breakout levels
For Short Traders Exercise caution; sharp pullbacks could follow after such a rally
Critical Levels to Watch
Support $0.0355, as it might provide a reentry point for bulls
Resistance Keep an eye on $0.0370 for a potential breakout
Takeaway
Liquidations like this shake the market but also open opportunities for savvy traders. Will maintain its bullish streak or retrace after the surge Stay ready for the next move