$VET Long Liquidation Alert.
Total Liquidation: $1.4165K
Liquidation Price: $0.04849
What’s Happening.
In a shocking turn, we saw a massive long liquidation in VeChain ($VET ), hitting a total of $1.4165K at a price of $0.04782! This means that a significant number of long positions were closed due to price drops, impacting traders who were hoping for higher price targets.
Key Insights:
This liquidation can signal weakness in the bullish momentum for $VET in the short-term.
The liquidation level at $0.04782 might suggest sell pressure that could continue to drag prices lower before we see any potential reversal.
If you’re looking at buy zones, keep a close eye on price action around this liquidation level to gauge potential bounce-back points.
What Should Traders Watch for Next.
Potential support may form near the $0.047 area, with the possibility of a bounce if buyers step in.
For traders watching for a reversal, price action near $0.045 to $0.046 could be crucial to confirm the next move.
Always be mindful of stop-loss levels to avoid getting caught in another liquidation!
Risk Management is Key.
With this kind of price action, volatility is high, and liquidations like this can shake out weak hands. Make sure to have your stop-loss and risk management strategies in place, especially if you're still holding positions or considering new entries.
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