$CFX Liquidated Long: $59K at $0.181
What happened?
A significant liquidation just occurred in the Conflux Network #CFX market, with a $59K long position getting wiped out at the price of $0.181.
Liquidations like this occur when the price moves against leveraged traders, forcing them to close their positions.
This often results in a sharp drop in price, triggering further sell-offs and adding to the volatility.
What’s next for $CFX ?
With this liquidation, we could see further downward pressure in the short term.
If the price struggles to stay above $0.180, we might see a deeper pullback toward $0.170 or even lower.
However, once the liquidation effect fades, there could be a potential for price stabilization and a rebound if market conditions improve.
Next Steps:
Look for support levels:
The $0.170-$0.175 range will be crucial to watch.
If $CFX holds above these levels, it could signal a bottom and a potential bounce back.
Watch for consolidation:
If the price starts to consolidate around these lower levels, it may present a safer entry point for a possible reversal.
Manage risk:
As always, tread carefully in volatile conditions. Keep an eye on broader market movements to guide your next steps.
#CFX may be under pressure right now, but once the liquidations clear, it could present an opportunity for those who are patient.
Stay vigilant and plan your moves carefully!