$COS Long Liquidation: $27.015K at $0.01057!
Details:
Type: Long Position Liquidation
Liquidated Amount: $27.015K
Price Level: $0.01057
What Happened?
COS experienced a price drop, triggering long liquidations worth $27.015K.
This indicates buyers were unable to sustain positions, amplifying selling pressure and volatility.
What’s Next?
1. Key Levels to Watch:
Resistance: $0.011 – Breaking this could signal a recovery attempt.
Support: $0.010 – Holding above this level is crucial to prevent further declines.
2. Market Sentiment:
Bearish: Current trends favor sellers, but a bounce is possible near support.
Next Target: A drop below $0.010 could open the path to $0.0095.
3. Action Plan for Traders:
For Buyers: Wait for stabilization near $0.010 before entering.
For Sellers: Look for rejections near $0.011 to short with a target near $0.010.
Conclusion:
The $27.015K liquidation highlights market weakness for COS, with bears in control.
Watch $0.010 support closely—breaking it could lead to sharper losses.
Manage trades cautiously in this volatile environment!