Breaking Alert: $COW Long Liquidation Shock!

A major $4,630 worth of long positions were liquidated at $0.89676, showing strong downward pressure in the market.

What This Means:

Long liquidation happens when traders betting on a price rise are forced to sell as prices fall.

This indicates bearish momentum, with sellers taking control of the market.

Key Support & Resistance Levels:

Support: $0.8700 (buyers might step in here to defend the price).

Resistance: $0.9200 (a potential level where sellers could remain active).

Next Move:

1. If you hold COW:

Be cautious. If the price breaks below $0.8700, it could drop further.

2. If you’re looking to trade:

For buyers: Wait for a clear bounce from $0.8700 to confirm a reversal before entering.

For sellers: If the price struggles to break above $0.9200, it may be a good opportunity to short.

Suggested Strategy:

Bearish Scenario: A sustained move below $0.8700 could lead to more selling pressure.

Bullish Scenario: If the price bounces above $0.9200, it might regain momentum for a recovery.

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