$STX Major Long Liquidation Alert on.

A massive $6.6941K worth of long positions were wiped out at the critical price of $1.509.

The $STX market has shown extreme volatility, catching traders off-guard as prices sharply moved against over-leveraged long positions. This liquidation suggests a significant lack of bullish momentum at this level, causing bulls to lose their footing.

What Does This Mean.

1. Long Liquidation: Traders with long positions (betting the price would go up) faced forced closures due to sudden price drops below their margin levels.

2. Price Level Insight: The $1.55605 level may act as a critical resistance, marking the price point where bullish strength couldn't hold.

3. Market Sentiment: This move reflects bearish pressure, potentially leading to further downside unless bulls regain control.

Technical Outlook for $STX

Resistance: $1.55605

Support: $1.50 (psychological support) and $1.45 (next strong demand zone).

Volatility Alert: Expect sharp moves as traders attempt to recover or profit from liquidations.

How to Trade This.

Short-Term Strategy: Wait for consolidation below $1.55605 or breakout confirmation.

Caution for Bulls: If you're looking to go long, consider entering at support zones like $1.45, with a tight stop-loss below $1.40.

Pro Tip: Stay vigilant during these volatile times! Protect your capital by managing leverage wisely and setting clear stop-loss levels.

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