Massive Long Liquidation Alert: $MBOX

The market just witnessed a whopping $4.9585K long liquidation at a crucial level of $0.2132.

What does it mean.

A long liquidation occurs when traders betting on the price going up (long positions) are forced to exit due to the market dipping below their margin level. This happens when prices hit stop-loss levels or liquidation thresholds, leading to forced selling—adding even more pressure to the price drop.

Key Levels to Watch for $MBOX

Current Price: $0.21293

Support Zones:

$0.208 - $0.212 (Critical demand zone; watch for a bounce)

Resistance Zones:

$0.220 - $0.225 (Major hurdle for bulls to reclaim momentum)

What could happen next.

1. Bullish Case:

If the support zone ($0.208-$0.212) holds strong, we may see a rebound with targets around $0.220 and $0.225.

2. Bearish Case:

A break below $0.208 could open doors to further downside, potentially testing the $0.200 level.

Traders Beware:

The high liquidation volume indicates significant volatility. Tight stop-losses and risk management are crucial in such conditions.

Are you ready to ride the storm or step aside and wait for the market to stabilize.

Let us know your take in the comments.

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