Market Shakeup: $5.57K Long Liquidated in $PNUT at $0.69625!
The $PNUT market just witnessed a significant liquidation as $5,569.30 in long positions was wiped out at $0.69625, raising questions about bullish strength.
This event reflects increased downward pressure, catching over-leveraged bulls off guard.
Key Details:
Liquidation Type: Long position
Amount: $5,569.30
Liquidation Price: $0.69625
Market Impact: Bearish momentum building, with key support zones under threat.
Next Moves to Consider:
1. Watch $0.68 Support: This level is crucial for a potential bounce. If broken, further downside could accelerate.
2. Avoid Aggressive Longs: Wait for signs of recovery or consolidation above $0.70 before re-entering.
3. Look for Short Opportunities: If bearish pressure continues, capitalize on downside momentum with proper risk management.
4. Monitor Whale Activity: Sudden large trades could signal a reversal or further sell-offs—stay alert.
$PNUT is at a crossroads, and this liquidation marks a critical point for traders. The next price action will decide the short-term fate—play with caution and precision!