$WIF Long Liquidation Hits Big.

A jaw-dropping $7,868.5 worth of was liquidated at a critical price of $2.037.

This long liquidation signifies a massive sell-off, forcing leveraged traders to close positions as the market dipped below their margin requirements.

What Does This Mean.

Long Liquidation occurs when traders betting on price increases (long positions) are forced to sell because the price drops too far, hitting their liquidation threshold.

The price of $WIF at $2.03931 acted as a liquidation point, likely triggering a cascade of sell orders.

Key Details:

Liquidation Amount: $7.8685K

Liquidation Price: $2.03931

Impact: Increased market volatility and potential bearish momentum.

What’s Next.

Support Level to Watch: If $WIF continues its downtrend, look for the next strong support level.

Resistance Ahead: If the market bounces back, $2.03931 could now act as resistance.

Trader’s Takeaway:

Stay cautious with leverage and keep a close eye on liquidation levels. If you're trading $WIF, adjust your stop-loss to avoid being caught in sudden moves like this.

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