Massive Liquidation Alert.

$CFX Long Liquidation: $59,467 at $0.1758.

The market is ruthless, and the volatility just claimed another victim! At the critical price of $0.17522, a massive $59,467 worth of long positions on $CFX got liquidated! Traders betting on a price surge were caught off guard as the market turned against them.

What Happened.

1. Long Liquidation: This occurs when traders borrow funds to leverage their positions but fail to maintain the required margin as the price drops.

2. Key Level Breach: The liquidation suggests $0.17522 was a significant support zone that got broken, triggering a cascade of liquidations.

Technical Analysis.

Support Zone: Now, $0.175 could act as resistance if the price tries to recover.

Next Support: If the downtrend continues, watch for $0.165 as the next possible support.

Recovery Potential: Bulls need to reclaim $0.180 to regain control and stop further liquidations.

What This Means for Traders.

For Bulls: Be cautious about leveraging too high—volatility can strike at any moment!

For Bears: This could be an opportunity to ride the momentum further down.

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