The latest liquidation heatmap for Pepe Coin’s USDT pair on Binance shows the precarious situation for leveraged traders.
As shown in the figure, if the price rises to $0.0000222, PEPE/USDT leverage orders worth more than $2 million will be on the verge of liquidation.
The heat map depicts multiple price levels where there is a high concentration of liquidation risk. The heat map demonstrates the volatility of high leverage trading in the cryptocurrency market.
This trading pattern highlights the risks that come with large price swings. It is worth noting that even small market fluctuations can trigger large-scale liquidations, thereby exacerbating volatility.
The concentration of potential liquidations at various price points suggests that traders have adopted a layered defense strategy, with each trader prepared to stop losses at different stages of the decline.
Traders and investors should remain vigilant about these key price levels because once liquidations begin, they could trigger a cascading decline in prices.
This situation highlights the need to use leverage with caution in highly unpredictable markets with rapidly changing prices.
PEPE Coin breaks through trend line resistance
PEPE is showing a possible shift in momentum from its previous bearish trend, marked by a descending triangle pattern (generally bearish) on the PEPE/USDT trading pair.
However, the recent breakout above the descending trendline of the triangle has sparked interest in a potential bullish reversal.
This shift occurred as price action broke above the trendline and was accompanied by an increase in volume, indicating stronger buyer participation.
Sustaining above the $0.00002051 resistance could further invalidate the bearish pattern. This would also bring potential gains for PEPE coin.
If the momentum sustains, the price could challenge subsequent resistance levels of $0.00002200 and above.
The emergence of a descending triangle pattern, coupled with significant liquidations near these levels, suggests that PEPE could be on the verge of a more significant price move.
Market participants are watching for continued growth in trading volumes to confirm sustained interest, which could push PEPE toward higher targets in the near term.
Such moves are crucial because they could trigger a cascade of buy orders if the resistance level is breached cleanly.
Pepe Whales’ wave of acquisitions
Over $2 million worth of leveraged Pepe orders could be at risk. Therefore, if the price rises to $0.0000222, potential liquidation is imminent.
Despite the threats, Pepe coin is still showing bullish signs. A significant breakout of key trendline resistance could signal an imminent rebound, sparking interest among traders and market watchers.
Recent trading activity highlights the influence of whales in the Pepe market.
Whale wallets have been recorded hoarding a large amount of coins. One example is a newly created wallet that purchased a staggering 309.6 billion Pepe. This wallet purchased about $6.45 million worth of PEPE from KuCoin at an average price of $0.00002082.
The significant activity shows how these large trades can cause sudden market moves.
This accumulation is part of a broader pattern where influential market players are presumably preparing for a bullish phase for PEPE coin.
If the price sustains above the trendline on increasing volume, it could push Pepe to test higher resistance levels. This would offset the bearish setup that is typically expected of a descending triangle.
The market is currently watching these developments closely, keeping an eye on how whale behavior aligns with technical predictions to drive short-term price action for Pepe Coin.
