Massive Short Liquidation Alert for $IMX

Liquidation Event: $4.0259K.

Price at Liquidation: $1.395.

The market has seen some significant volatility, and a major short position was liquidated for a staggering $4.0259K at a price of $1.4013. This is a notable event in the market as short liquidations often fuel further price movements, potentially triggering a short squeeze or sharp price reversals.

What does this mean for traders.

When short positions get liquidated, it often leads to a rapid upward movement in the price as traders who bet against the asset are forced to buy back their positions. This can lead to heightened market volatility.

$IMX holders and traders need to be cautious of potential price spikes, and short-term price fluctuations are expected.

Key Levels to Watch:

Buy Zone: Keep an eye on any potential dips to the $1.35–$1.40 region, which may offer attractive entry points for buyers looking to capitalize on the short squeeze.

Target Zone: If the market continues to show bullish momentum, a target of $1.50–$1.55 could be in play.

Stop-Loss Level: A prudent stop-loss should be set around the $1.30 level, protecting from potential downside risks if the price fails to break past resistance levels.

Stay alert.

Liquidations like this can trigger further moves. Make sure you're positioned well to capitalize on any price action in $IMX

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