Massive Liquidation Alert on $GAS

A whopping $2.7188K worth of shorts just got obliterated at the price of $5.209. The bears tried to hold on, but the bulls came in with an explosive rally, forcing short positions to cover in dramatic fashion.

What Happened.

Short traders betting against $GAS failed to anticipate a sharp price move, leading to liquidations.

Liquidations occur when traders’ margin accounts cannot cover their losses, causing their positions to be automatically closed.

Key Metrics:

Liquidation Amount: $2.7188K

Trigger Price: $5.22443

Technical Breakdown:

Resistance Zone: $5.30 - $5.50

Support Zone: $5.00 - $4.80

Current Trend: Bullish momentum is building after this liquidation event, as it signals potential strength in the market.

What's Next for $GAS

If bulls maintain this momentum, we could see a test of the $5.50 resistance.

However, traders should watch for pullbacks near $5.00, as this could act as a re-entry point for long positions.

Pro Tip: Always manage your leverage and keep an eye on market volatility to avoid sudden liquidations.

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