A $52.3K long position liquidated at $4.030 highlights the sharp downturn for $ME .
Bulls were caught off guard as the price failed to sustain upward momentum, forcing a major position wipeout.
This liquidation underscores the volatility and unpredictability surrounding $ME .
As support levels crumble, traders are left reevaluating their strategies amidst bearish pressure.
Will $ME find a rebound soon, or is more downside on the horizon? The market remains on edge.