Massive Short Liquidation Alert.
Token: $PNUT
Liquidation Amount: $11,359
Liquidation Price: $0.7316
The market has just witnessed a significant short squeeze for $PNUT, as bears were forced to cover their positions at $0.73603, triggering a liquidation of over $11.3K. This surge could be the result of intense buying pressure or a whale-driven move to liquidate weak shorts.
Why is this exciting.
1️⃣ Liquidation Cascade Risk: Such liquidations often trigger more forced buy-ins, leading to sharp upward moves.
2️⃣ Market Sentiment Shift: Bears are under pressure, which might indicate a bullish reversal.
3️⃣ Potential Resistance Breach: If breaks its key levels, it could head towards higher highs.
What’s Next.
Support Level: If this momentum continues, $PNUT could stabilize above $0.73603.
Resistance Zone: Watch for resistance at $0.750 and $0.800.
Possible Rally: A break above these levels could trigger fresh buying opportunities.
Warning for Traders.
Volatility Ahead: Sharp moves can lead to unexpected losses. Stay cautious with tight stop-loss orders.
Entry Tip: Look for retracements if you’re planning a long entry.
Risk Management: Always trade with a clear plan to protect your capital.
Stay sharp, traders! The action in is heating up, and this could just be the beginning of a thrilling market move!
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