Major Shake-Up: $IOTA Long Liquidation Triggers Market Volatility!
A massive long liquidation of $6.0829K at $0.3438 has sent shockwaves through the $IOTA market, raising concerns over the continuation of the bearish momentum.
Key Details:
Liquidation Amount: $6.0829K
Liquidation Price: $0.3438
Market Sentiment: Bearish, with increased downside pressure.
Next Move:
1. Support Levels: Watch for potential support near $0.3400. A break below could lead to further declines toward $0.3350.
2. Resistance Levels: Any recovery could face resistance near $0.3500, where sellers may step in.
3. Volume Analysis: Pay attention to volume—an increase in selling activity could fuel further drops, while a slow down in volume may signal stabilization.
Suggested Stop Loss:
For Longs: Set a stop loss below $0.3400 to limit risk if the bearish momentum continues.
For Shorts: Tighten stops above $0.3500 to lock in profits if the price starts to rebound.
The $IOTA market is in a delicate state—brace for further volatility and be prepared for rapid movements in either direction as traders react to this liquidation event.