Major Liquidation Alert. $HIVE Under Pressure.

A long liquidation of $3.6993K occurred at $0.6073, shaking the market and raising eyebrows among traders. This significant event highlights increased volatility and mounting pressure on long positions.

What Happened.

Long Liquidation occurs when leveraged long traders are forced to exit positions due to price drops below margin requirements.

At $0.56212, bulls were overwhelmed, causing this $3.7K liquidation.

$HIVE Price Action:

The liquidation price indicates a critical support level failed.

Bears are gaining control, leading to downward momentum.

Key Levels to Watch:

Resistance: $0.5800 – Bulls need to reclaim this level for any recovery.

Support: $0.5500 – Breaching this level could accelerate a bearish breakdown.

Next Steps for Traders:

Bulls: Watch for confirmation of support at $0.5500 before re-entering. A recovery above $0.5800 could indicate renewed strength.

Bears: Target further downside if $0.5500 fails, with a potential drop toward $0.5000.

Market Sentiment: Mixed. Bulls remain hopeful, but bears have the upper hand for now.

Stay sharp, $HIVE traders! Volatility is here, and opportunities abound. Trade carefully and manage your risk.

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