$EGLD Long Liquidation Alert.

$1,133.2K Wiped Out at $35.80.

The market just served a hard blow to long positions on Elrond (EGLD) as $1.13M in longs got liquidated at the critical price level of $35.301! This massive liquidation indicates intense selling pressure, catching over-leveraged traders off guard.

What Happened.

1️⃣ Support Breach: EGLD broke below a key support zone, triggering cascading liquidations.

2️⃣ Bearish Momentum: Increased sell orders pushed prices lower, intensifying the liquidations.

3️⃣ Whales Watching: Such liquidations often indicate a potential shift in market sentiment.

Key Insights:

Current Price: Around $35.301 (or slightly lower due to liquidations).

Immediate Resistance: $37.50 (where sellers may regroup).

Support Zone to Watch: $34.00–$34.50.

For Traders:

Possible Reversal.

Look for strong buying interest around $34.00–$34.50.

Caution! If EGLD breaks $34.00, the next downside target could be $30.00.

Upside Target: A recovery above $37.50 could open doors to $40.00+.

Trade Wisely.

Liquidation events like this often shake weak hands but create golden opportunities for patient traders. Monitor volume and price action closely.

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