1. $PNUT (crypto token):
The liquidation of a $62.7K short position at $1.312 indicates buying pressure, as short liquidations typically occur when the price moves upward against the short seller's position.
2. Next move possibilities:
Bullish Momentum: If this liquidation triggers more buy orders or stops (a short squeeze), the price could continue to rise. Look for resistance levels above $1.312 to anticipate potential targets.
Reversal Opportunity: If the move is overextended, profit-taking or resistance at key levels may trigger a pullback. Watch volume and candlestick patterns to confirm reversal signs.
Next Steps:
For Traders:
Bullish: Consider riding the upward momentum with tight stop-losses near $1.312.
Bearish: Wait for price rejection near resistance before entering a short position.
For Analysts: Monitor liquidation data and volume trends for further clarity.