$PENDLE Long Liquidation Alert
Liquidation Amount: $5,539.3
Price Level: $4.23821
This liquidation signals heavy selling pressure, likely leading to more price volatility. Here's what you need to know:
Key Details:
1. Market Sentiment:
A liquidation this size suggests weak buyer confidence.
2. Support Level:
Check if $4.23821 holds as support. If broken, the price could dip further.
3. Resistance Level:
Watch for resistance near recent highs, around $4.50 or above.
Suggested Next Moves:
For Traders:
If $4.23821 breaks, consider shorting or waiting for a lower re-entry point.
If the price stabilizes, look for bullish confirmation before going long.
For Investors:
Review the project’s fundamentals.
Consider accumulating only if the price finds strong support and shows signs of recovery.