$IOTA Short Liquidation Alert!
A significant liquidation of $6,525.2 in short positions occurred at $0.3493.
This marks a crucial level for IOTA traders, showing intense price action as bears were caught off-guard.
What’s Happening?
The market's movement triggered a wave of liquidations, particularly on short positions, as IOTA surged past key resistance levels.
With this liquidation, it’s evident that bullish momentum is forcing shorts to cover their positions, driving prices even higher.
Key Details:
Amount Liquidated: $6,525.2
Price Level: $0.3493
Market Context: The broader crypto market has been experiencing increased volatility, and $IOTA 's price seems to be capitalizing on positive sentiment.
Why It’s Important:
1. Bulls in Control: Liquidation at this level shows significant buying pressure, indicating that traders are betting on continued upward momentum.
2. Short Squeeze: Such liquidations can fuel further price spikes as shorts rush to cover their losses.
3. Potential Breakout: If $IOTA sustains levels above $0.3493, it may aim for new highs in the short term.
What’s Next?
Watch for resistance around $0.36 and support near $0.34.
High risk: Volatility could continue, so manage positions carefully.
Stay sharp, traders! Will the bulls continue their charge, or will bears regroup for a comeback?