Massive $SYN Short Liquidation.

Breaking news in the crypto market.

A staggering $2,142.4K worth of shorts were liquidated at a price of $0.6815 for (Synapse). This liquidation hints at a significant price movement in the market, possibly fueled by a short squeeze or strong buying momentum.

What Happened.

A short liquidation occurs when traders betting on the price going down are forced to close their positions as the asset's price rises sharply. This liquidation at $0.68077 suggests:

1. Strong upward momentum: Bulls are taking over the $SYN market.

2. Potential resistance breakout: The price could break key resistance levels and move higher.

Key Levels to Watch.

Current Price: $0.68077

Immediate Resistance: $0.7000 - $0.7200

Support Zone: $0.6500 - $0.6700

Possible Market Scenarios.

1. Bullish Case: If buying pressure sustains, we might see rally towards $0.75 or even $0.80.

2. Bearish Case: A pullback could test support at $0.65 before any upward continuation.

Traders Tip: Monitor volumes and market sentiment closely. If momentum builds, $SYN could see even higher liquidations on shorts, driving the price further.

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