Breaking: $PHA Short Liquidation of $2.7808K at $0.47397! Bulls Take Charge!
A massive $2.7808K short liquidation just shook the market as Phala Network ($PHA) surged to $0.47397.
This liquidation reflects growing bullish momentum as sellers are forced to cover their positions.
Could this be the start of a major breakout?
Key Details:
Liquidation Size: $2,780.8
Liquidation Price: $0.47397
Market Impact: Short sellers caught off-guard as $PHA powers through resistance, signaling strong demand.
Next Moves:
1. For Bullish Traders:
Look for sustained momentum above $0.475 to confirm a breakout.
Next target levels are $0.50 and $0.55, but watch for profit-taking.
2. For Bearish Traders:
Wait for exhaustion signals or bearish divergences to enter shorts at higher levels.
Use tight stops, as momentum remains strong.
3. For Swing Traders:
Monitor consolidation above $0.47 for a potential re-entry.
Volume confirmation is key before committing to a long or short position.
4. Risk Management:
High volatility is likely; adjust position sizes accordingly.
Place stop-loss orders to avoid sudden reversals.
With shorts being wiped out, the market is watching if $PHA can sustain this bullish momentum or if resistance at $0.50 will prove too strong.
The battle is on—don’t miss it!