Shockwave in the Market: $MTL Long Liquidation!
A massive $4,847.4 worth of MTL long positions got liquidated as the price sharply dropped to $1.3424. Traders betting on a bullish rally faced a harsh reality check as the market reversed unexpectedly.
Event Breakdown
1. Sudden Downturn: A surge of sell orders drove the price below key support levels, triggering liquidation.
2. Position Collapse: Leverage amplified the damage, causing a rapid wipeout of long positions.
Next Key Levels for MTL
Support: $1.30 could serve as the next critical support zone.
Resistance: Bulls must overcome $1.45 to shift the momentum back in their favor.
What to Expect?
With this massive liquidation, the market might see some sideways action or further downward pressure. Is this a setup for a future breakout, or just another bear trap? Keep a close eye—this is far from over!