Massive $XTZ Liquidation Alert!

A whopping $53.5K long position on Tezos $XTZ just got liquidated at a crucial price level of $1.241.

This event could signal a turning point for the market:

Bearish Scenario: The pressure from this liquidation might trigger further downward momentum, sending prices lower.

Bullish Rebound? Alternatively, liquidation events can sometimes mark the end of a sell-off, creating an opportunity for buyers to step in at discounted prices.

Key Points to Watch:

1️⃣ Support Zone: Can $XTZ hold above the $1.24-$1.20 range, or are we in for a deeper plunge?

2️⃣ Volume Spike: Keep an eye on trading volumes — surges often follow liquidations.

3️⃣ Market Sentiment: This could ripple through the market; are traders leaning bearish, or will whales seize the dip?

Stay sharp! Moments like these can redefine the trend.

Risk management is key in volatile markets.

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