Here’s a thrilling, detailed post for your event:
#PNUT Liquidated Short: $61.2K at $0.699
Massive Short Liquidation Alert!
A $61,200 short position on
just got liquidated at the pivotal price of $0.699, setting the stage for an explosive market reaction!
Market Impact:
This liquidation has created a surge in bullish momentum,
as shorts are forced to cover, pushing prices higher. The ripple effect could attract more buyers,
intensifying the upward pressure.
Price Action:
Before the liquidation:
#PNUT was trading in a tight range near $0.685, teasing a breakout.
After the liquidation: The price catapulted past $0.699, with volume spiking as bulls took control.
What This Means for Traders:
Bulls: The breakout above $0.699 is a strong bullish signal.
Watch for further gains as shorts continue to exit.
Bears: Tread carefully.
market sentiment is shifting rapidly. Wait for overbought conditions before considering re-entry.
Day Traders: The volatility around this level offers prime scalping opportunities.
Ride the momentum but keep a close eye on resistance at $0.710.
Key Takeaway:
The liquidation of a large short position at $0.699 is a clear sign of buyer strength. If the momentum sustains,
the next resistance level at $0.720 could be tested. However, a rejection could see a retest of $0.685 as support.
Stay vigilant and trade wisely! The market is heating up.
don’t miss your chance to capitalize on the action!