$AVAX Liquidated Long: $120K at $47.93
A huge liquidation today in #AVAX ! Over $120K worth of long positions got wiped out as the price dropped to $47.93.
The market showed a strong rejection at higher levels, trapping many bulls.
What’s next for $AVAX ?
The liquidation signals that the bullish momentum has faced serious resistance.
Watch for potential continued weakness if the price doesn’t reclaim higher levels soon. Key levels to track:
• $46.50 support: A critical level that needs to hold to avoid further downside.
• $50.00 resistance: Watch this level closely. If price breaks above, it could signal a return to bullish momentum.
Next move?
Wait for confirmation at $46.50 before making any moves.
If support holds, there might be a buying opportunity, but be prepared for volatility.
Avoid jumping in too soon—let the market show its direction first.
Keep a close eye on the charts and trade wisely!