Breaking: $ME Long Liquidation of $1.7246K at $3.041!
Bulls Crushed, Bears Take Control!
A sharp market move has triggered $1.7246K worth of long liquidations as ME dropped to the critical price level of $3.041.
This marks a decisive shift in momentum, with bears tightening their grip and forcing leveraged buyers out of the market.
What Happened?
Long Liquidation: Over-leveraged bullish traders were caught off guard as prices failed to hold support at $3.041.
Momentum Reversal: This liquidation indicates strong selling pressure, possibly driven by profit-taking or bearish sentiment.
Key Level Broken: $3.041 acted as a critical support—its breakdown could pave the way for further downside.
Next Move:
1. For Traders:
Short Opportunity: Watch for resistance near $3.05–$3.10 for potential short entries.
Caution on Reversals: Monitor any signs of recovery—if Me reclaims $3.041, bulls could regain control.
2. For Investors:
Avoid aggressive buying until $ME shows signs of stabilization.
Look for accumulation opportunities near the next support zone, likely around $2.90–$3.00.
3. Risk Management:
Be prepared for increased volatility—further liquidations could trigger cascading moves.
Watch for volume spikes, which may signal a reversal or continuation of the bearish trend.
The $ME market is heating up, with bears in control—for now.
Will the bulls strike back, or is a deeper correction on the horizon? Stay vigilant and trade smart!
