$AVAX /USDT Liquidation Bloodbath!
A $56,400 long position was liquidated at $34.52 as $AVAX faced a fierce rejection, sending the market into turmoil and leaving traders stunned in the wake of the drop.
What Triggered the Chaos?
1️⃣ Resistance Breakdown: AVAX failed to break past critical resistance, triggering a wave of selling.
2️⃣ Long Squeeze: With bulls trapped in their positions, forced liquidations piled on, accelerating the downward spiral.
3️⃣ Market Shakeout: The price dip has sparked panic selling, as traders recalibrate their positions in the wake of the liquidation wave.
Key Levels to Watch:
Current Price: $34.52
Support Zone: $33.00 – A crucial level for bulls to hold if they want to avoid a deeper correction.
Resistance Ahead: $35.50 – Bulls need to reclaim this level for a potential reversal.
Market Sentiment:
With liquidations hitting hard, the market has entered a state of high volatility.
Expect potential price swings as both bulls and bears battle for dominance in the coming hours.
Thrill Factor: Off the charts!
The liquidations have added massive volatility to $AVAX ’s price action, and traders need to stay sharp to navigate the wild moves ahead.
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