$4,961.7 $KNC Long Liquidated.

Price Level: $0.6058.

The crypto market strikes again, wiping out leveraged positions with a jaw-dropping liquidation at this critical price point. Traders who held long positions on KNC faced a harsh wake-up call as the price dipped below $0.60538, triggering stop-outs and margin calls.

What Happened.

KNC, the native token of Kyber Network, has been experiencing heightened volatility in recent sessions. With bearish momentum creeping in, bulls failed to hold key support levels, leading to the liquidation of $4,961.7 worth of KNC positions.

Key Insights:

1️⃣ Long Liquidation: This occurs when traders borrow funds to bet on a price increase but are forced to sell when the price falls too much.

2️⃣ Critical Price Level: $0.60538 acted as a major trigger point for liquidations, signaling a break below strong support.

Why It Matters:

Market Sentiment Shift: This liquidation reflects bearish pressure in the $KNC market.

Traders Beware: Leveraged trading can lead to significant losses, especially in volatile markets.

What’s Next for $KNC

Support Zones to Watch: If KNC fails to reclaim $0.60538, the next support level lies around $0.58–$0.59.

Resistance Levels: Bulls need to push above $0.62 to regain momentum.

Trend Overview: The trend leans bearish in the short term, but a bounce could lead to recovery opportunities.

Pro Tip: Always manage your risk when trading with leverage. The crypto market is unpredictable, and liquidations can wipe out positions in seconds.

Stay sharp, traders. The market is ruthless, but opportunities await the prepared.

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