Massive Liquidation Alert.

$ICP Long Liquidation just shook the market with a staggering $2,367.5K wiped out at the critical price level of $12.018.

Here’s what you need to know:

What Happened.

1. Liquidation Scale: A massive $2.3675 million worth of long positions was liquidated as the price of Internet Computer Protocol (ICP) dropped to $12.01791.

2. Key Level Breached: The $12.02 mark acted as a liquidation trigger, wiping out over-leveraged long traders.

3. Market Impact: This indicates significant selling pressure and high volatility in $ICP price action.

Market Analysis

Bearish Sentiment: The sudden liquidation suggests bears are currently dominating the market.

Support Zone: Traders should watch out for the next support levels at $11.80 and $11.50.

Resistance Levels: If ICP bounces, immediate resistance lies near $12.50 and $13.00.

What’s Next.

For Bears: A break below $12 could signal further downside potential, targeting the $11.50 zone.

For Bulls: If the price stabilizes, a recovery rally could aim to reclaim $12.50+.

Tips for Traders.

1. Manage Risk: Avoid high leverage, especially in volatile conditions like this.

2. Watch Volume: Pay attention to trading volume for clues on trend reversals.

3. Set Alerts: Stay updated on critical levels like $12 and $11.50.

Stay sharp, traders this is a thrilling time in the market! Keep an eye on $ICP as it unfolds further.

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