Massive Long Liquidation on $COW
A shocking $1.3171K worth of long positions got liquidated at the critical price of $0.9142.
This sudden move highlights intense market volatility, shaking out overleveraged traders. Here's the breakdown:
What Happened.
Long positions were forcefully closed due to price dropping below $0.91467, triggering liquidations. This signifies a potential shift in market sentiment, with bears briefly taking control.
Key Levels to Watch:
Resistance: $0.95 (if bulls attempt recovery)
Support: $0.90 (a breach could lead to further downside)
Trading Tip:
For risk-takers, this could present a lucrative scalping opportunity. However, proceed with caution as liquidation zones often lead to sudden price movements.
Potential Scenarios:
1. Bullish Recovery: If buyers step in, reclaiming $0.92 could spark an upward push.
2. Bearish Continuation: Failure to hold $0.90 might lead to further liquidations.
Stay sharp and trade wisely markets are heating up.
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