$PNUT Faces Long Liquidation Surge.
In a dramatic turn of events, has seen a long liquidation of $6,553.3 at the crucial price level of $0.7164. This sharp move reflects increased volatility in the market, catching over-leveraged traders off-guard.
What does this mean.
Liquidations occur when leveraged positions fail to meet margin requirements, forcing the system to close these trades automatically. In this case, the price drop below $0.71177 caused long traders (betting on price increases) to lose their positions.
Why is this happening.
Market sentiment: Bearish momentum might have spooked long traders.
High leverage: Overexposure without proper risk management led to these forced closures.
Stop-loss hunting: Whales may be manipulating prices to liquidate smaller traders and accumulate tokens at lower prices.
Key Levels to Watch for $PNUT :
Support Zones: $0.6900 - $0.7000 (potential accumulation area).
Resistance Zones: $0.7300 - $0.7500 (key levels to break for bulls).
Actionable Insights:
1. For Bulls: Look for price to stabilize above $0.7000 with strong volume before entering long positions.
Buy Zone: $0.6950 - $0.7050
Target 1: $0.7300
Target 2: $0.7500
Stop Loss: Below $0.6800
2. For Bears: Keep an eye on rejection around $0.7300 for a potential short setup.
The liquidation highlights the importance of managing leverage and using stop-loss orders to protect your portfolio. Stay alert for further moves, as $PNUT seems poised for a volatile ride.
#PNUT #BinanceAlphaAlert #CryptoReboundStrategy #SUIHitsATH #BitcoinHashRateSurge