Massive Short Liquidation Alert.

Filecoin ($FIL ) shorts just faced a liquidation worth $10.432K at the critical price level of $5.691.

This explosive move signals aggressive buying pressure in the market, forcing short sellers to cover their positions. Such liquidations often create chain reactions, pushing prices even higher as the market absorbs this wave of forced buying.

What’s Happening.

🔸 Short Liquidation occurs when traders betting against $FIL are forced out of their positions, causing a rapid price surge.

🔸 The trigger price of $5.689 highlights a zone where buyers overtook bearish momentum.

Key Levels to Watch:

Resistance: $5.75 – $5.85

A breakout above this range could lead to further upward momentum.

Support: $5.50 – $5.60

If bulls maintain this zone, we may see sustained bullish activity.

Strategy:

For Bulls:

Buy dips near $5.60 with potential targets at $5.85 and $6.00.

Stop-loss: $5.45.

For Bears:

Wait for rejection near $5.85 to re-enter shorts cautiously.

Stop-loss: $5.90.

Pro Tip: Large liquidations like this often indicate high volatility. Stay alert and trade smart.

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