$ICP Long Liquidation: $62.4K at $12.91!
Details:
Type: Long Position Liquidation
Liquidated Amount: $62.4K
Price Level: $12.91
What Happened?
ICP witnessed a significant price drop,
resulting in a massive $62.4K long liquidation at $12.91.
This suggests strong bearish momentum, as longs were forced to exit their positions, amplifying selling pressure.
What’s Next?
1. Key Levels to Watch:
Resistance: $13.50 – Recovery above this could signal a shift in momentum.
Support: $12.50 – A break below could lead to further declines toward $12.00.
2. Market Sentiment:
Bearish: The liquidation shows sellers dominating the market.
Next Target: If $12.50 fails, ICP may test $12.00 or lower.
3. Action Plan for Traders:
For Buyers: Wait for stabilization above $12.50 before considering new positions.
For Sellers: Look for opportunities near $13.50 resistance if the price struggles to recover.
Conclusion:
The $62.4K liquidation reflects bearish control, with ICP facing strong downward pressure.
Watch critical levels like $12.50 and $13.50 for signs of recovery or further decline.
Trade cautiously in this volatile phase!