Big Liquidation Alert!
A massive $53.2K long position on $SAND just got liquidated at $0.659! This shows a sudden shakeout in the market, catching over-leveraged traders off guard.
What Happened?
Such liquidations typically occur during heightened volatility or price manipulation by larger players. Breaking below $0.659 suggests bears are taking control in the short term.
Next Move for $SAND ?
1. Support Zone: Watch closely for a bounce around $0.640-$0.650, which has previously acted as a strong support.
2. Resistance Level: Bulls must reclaim $0.680 for any recovery momentum to build.
3. Caution: If the price drops below $0.640, expect more liquidations and potential downside to $0.620.
Opinion:
Stay cautious. Avoid over-leveraged positions and consider trading with tight stop-losses. Let the dust settle before entering new trades!
What’s your strategy for SAND?
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