$PNUT Long Liquidation Alert: $10.159K at $0.7238!
The market just saw a significant long liquidation in $PNUT as prices dipped to $0.7238, wiping out $10.159K worth of positions. This liquidation event signals heightened volatility and a potential shift in market sentiment. Here's what you need to know:
Key Details
Liquidation Amount: $10.159K
Liquidation Price: $0.7238
Market Sentiment: Weak support at current levels, potential for further downside if buyers don’t step in.
What’s Next?
1. For Long Traders:
Assess support levels near $0.70—a critical zone to watch.
Tighten stop losses to mitigate further downside risk.
2. For Short Traders:
Momentum could carry prices lower if $0.7238 breaks. Look for targets near $0.70 or lower.
Watch for oversold conditions—sharp rebounds can trap late shorts.
3. General Strategy:
High Risk: Be cautious of potential bounce-back rallies.