$HMSTR Long Liquidation Alert!
Amount: $1,032.4K
Price Liquidated At: $0.00319
A significant $1.03M long position on HMSTR has just been liquidated at $0.00319, signaling a sharp drop in price and strong bearish pressure.
Bulls have taken a heavy hit at this critical level, raising concerns about further downside and potential panic in the market.
---
Key Highlights:
1. Support Breach: The liquidation level at $0.00319 suggests a breakdown of a key support zone.
Watch closely for continued weakness below this level.
2. Volume Spike: Liquidations of this size often coincide with a volume surge, signaling intensified selling pressure.
3. Market Sentiment: This event may erode confidence among long traders, opening the door for bearish dominance in the near term.
---
Next Move:
For Bears:
Entry Point: Consider shorting if $HMSTR stays below $0.00318 with declining volume.
Stop Loss: Place a stop loss above $0.00325 to mitigate risk.
Profit Target: Target the next support levels at $0.00300 and $0.00280.
For Bulls:
Wait for Signs of Recovery: Avoid entering long positions unless $HMSTR reclaims $0.00325 with strong buying interest.
Stop Loss: Use a stop loss below $0.00315 to protect your capital.
Profit Target: If recovery occurs, aim for resistance levels at $0.00340 and $0.00350.
---
What’s Next?
This liquidation could trigger more downside as shaken long traders exit their positions.
However, a rapid recovery above $0.00319 could attract fresh buying interest and catch the market off guard.
Stay sharp and monitor price action closely!