$FET Liquidation Alert!

A massive $56.4K long position just got liquidated at $1.723, sending shockwaves through the Fetch.ai market!

The market just took a wild turn, and now traders are on edge, trying to predict the next explosive move in FET.

Market Breakdown & Insights

1️⃣ Support Crumbling at $1.723:

The liquidation at $1.723 indicates a significant loss of buying momentum.

If $1.723 fails to act as support, the price could quickly slide toward $1.650 or $1.600, where there might be stronger demand to absorb the selling pressure.

2️⃣ Bearish Sentiment on the Rise:

Sell Pressure Building: The liquidation has unleashed a wave of selling, and market participants are now watching closely for any signs of further downside.

Weakened Order Book Below:

The support just under $1.723 looks thin, which could lead to more sell orders stacking up, potentially pushing the price lower.

3️⃣ Whale Activity?

Liquidations of this scale are often associated with whale movements.

Could this be a tactical shakeout designed to force out overleveraged longs before the whales accumulate positions and drive the price back up?

What’s Next for $FET ?

Bearish Case: If $1.723 is broken, the price could easily fall to $1.650 or even $1.600, with more liquidations likely triggering additional downward pressure.

Bullish Reversal: If $FET manages to hold above $1.723 and break $1.750, we could see a bounce back toward $1.800 or even $1.850, with the potential for a stronger upward move if buying momentum returns.

Pro Tip: Keep a close eye on whale activity and liquidation zones—these are often key areas where big moves unfold.

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