Massive Long Liquidation Alert for $AXS

Liquidation Amount: $1.7958K

Price Level: $7.237

The Axie Infinity ($AXS) market witnessed a significant long liquidation, forcing leveraged traders to close their positions at $7.18306. This suggests intense selling pressure at this critical level, possibly indicating a bearish trend or stop-hunting by bigger players.

What Happened.

Long liquidations occur when traders betting on the price rising (longs) are forced out of their positions because the price drops to their liquidation level. In this case, traders who over-leveraged at higher levels were caught off guard as the price plunged to this liquidation zone.

Technical Analysis.

1. Key Support Zone:

Watch $7.10–$7.20 for strong support. If this level breaks, $AXS could test lower levels.

2. Resistance Level:

Expect resistance near $7.50. Bulls must reclaim this level to gain control.

3. Market Sentiment:

The liquidation could signal potential whale manipulation or a cascading effect triggering more stop-loss orders. Stay cautious!

Trade Strategy Suggestion:

If you're trading $AXS:

Buy Zone: $7.00–$7.10 (if strong support holds)

Target 1: $7.50

Target 2: $8.00

Stop-Loss: Below $6.90

Thrill of the Markets: $AXS traders, prepare for more volatility as the market reacts to this liquidation! Stay alert and manage your risk effectively.

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