Massive Liquidation Alert for
$AVA Long Liquidation of $4,882.1 just hit the books at a crucial level of $1.6842.
This liquidation marks a potential turning point in the
$AVA market, with significant implications for traders. Let’s break it down:
Key Market Insights.
1. Price Level Impacted:
Liquidation occurred at $1.48477, a critical support zone.
This suggests long positions with high leverage are being wiped out.
2. Market Sentiment:
Liquidations often create a domino effect, driving prices lower in the short term.
However, such moves also attract strong buying interest at lower levels.
3. Key Metrics:
Volume Spike: Indicates high activity at this level.
Funding Rates: Monitor if they shift to negative, signaling bearish pressure.
Trading Strategy.
Short-Term Traders:
Watch for further downside potential if
$AVA breaks below $1.480.
Potential Buy Zone:
Accumulate around $1.45 - $1.47, where buyers may regain control.
Targets:
$1.52 (short-term resistance).
$1.58 (major resistance).
Stop Loss:
Set at $1.42 to manage risk.
What’s Next.
This liquidation could lead to high volatility in the next few hours. Stay vigilant and watch for reversal patterns or further downside momentum.
Pro Tip: Keep an eye on broader market conditions and whale movements to gauge the next big move.
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