$DOGE Long Liquidation: $7.4704K at $0.38155
A $7.4704K long position on Dogecoin ($DOGE) was liquidated at $0.38155, signaling a shift in momentum as the bulls face intense selling pressure. This liquidation suggests overleveraged traders are being forced out as the market moves against their positions.
Market Breakdown
1. Bearish Pressure: The price at $0.38155 indicates that the bulls are struggling to maintain control, and the market could continue its downward move.
2. Volume Surge: Such a liquidation could trigger increased market activity, making the price even more volatile in the short term.
Critical Levels
Support: $0.375 – A key level to watch; if broken, further downside toward $0.365 could be likely.
Resistance: $0.390 – A reclaim of this level could signal a potential reversal for the bulls.
Trading Strategy
For Bears: Consider shorting if the price fails to reclaim $0.390.
For Bulls: Be cautious and wait for confirmation of support at $0.375 or a break above $0.390 before entering.
Risk Management Tip:
In high-volatility markets, stay disciplined with stop-loss orders and avoid overleveraging. With the current pressure, will $DOGE rebound or continue to slide further?