Massive Short Liquidation Alert.
In an unexpected turn of events,
$AVA (Travala) saw a huge short liquidation at $0.9563, triggering a major shakeup in the market. The liquidation amounted to $1.1133K as traders were caught off guard by the sudden price surge.
What Happened?
A significant number of traders had placed short positions, betting that the price of AVA would drop further. However, the market turned against them as AVA rallied past critical support levels, causing a cascade of liquidations.
Key Numbers:
Short Liquidation: $1.1133K
Liquidation Price: $0.95626
Current Price Action: Traders who shorted AVA were forced to close their positions, contributing to the price volatility we’re seeing right now.
Why Does It Matter.
This short squeeze not only created panic among short sellers but also fueled bullish momentum. The price of
$AVA might see further upside as more shorts get squeezed, potentially triggering a buying frenzy.
Key Levels to Watch:
Support: $0.95 - Price remains above this level, indicating a possible consolidation or upward movement.
Resistance: $1.10 - A breakout past this could signal further bullish potential.
Possible Targets:
First Target: $1.15 (A potential upside if the bullish trend continues)
Stop-Loss: Keep an eye on the $0.90 region for possible downside risk.
Trading Strategy:
Long Position: Consider entering near the current support levels or a pullback to $0.95.
Short Position: It may not be ideal to short
$AVA right now as the market sentiment looks bullish after the squeeze.
This type of market event is a reminder of the risks in trading, especially when liquidations can trigger unexpected moves. As always, keep your eyes on the charts and manage your risk carefully. Happy trading
#AVA #BTCBreaksATH #TRUMPCoinMarketCap #BTCNextATH? #SOLVLaunchOnBinance