$TURBO
liquidation value of $168,000 at a
rice of $0.0101.
For the next move, here's what could typically happen in such scenarios:
1. Market Reaction: A short liquidation of this size could potentially lead to a rapid upward price movement (a "short squeeze"). This happens because the market reacts to the forced buy orders as the short positions are closed.
2. Price Volatility: Expect volatility. The market may test new highs or lows depending on the broader market context, liquidity, and trading sentiment.
3. Technical Levels: Key levels to watch for the next move might be resistance and support zones, such as:
Resistance: Look for previous highs or key Fibonacci retracement levels above $0.0101.
Support: Keep an eye on the next support level beneath $0.0101, in case the price retraces.
4. Indicators: It would be useful to observe momentum indicators such as RSI to gauge if the price is overbought or oversold.
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