Market Shakeup: $COMP Long Liquidation at $71.33!
In a swift bearish move, $3,166.6 worth of COMP long positions were liquidated as the price tumbled to $71.33, catching leveraged traders off guard.
What Happened?
1. Critical Support Breached: A surge in selling pressure drove COMP below its key support level.
2. Liquidation Cascade: Leveraged longs couldn't withstand the downturn, amplifying the drop.
Key Levels to Watch for COMP
Support Zone: $70.00—a vital level for bulls to defend against further losses.
Resistance Zone: Bulls need to reclaim $75.00 to spark recovery momentum.
What’s Next?
This liquidation serves as a wake-up call for COMP traders. Will buyers step in to reverse the trend, or is more downside imminent? Stay vigilant—volatility is the name of the game!