$AVAX Liquidation Alert: $6.03K Long Wiped Out at $35.9105
Avalanche (AVAX) faces selling pressure as a $6,033 long position is liquidated at $35.9105.
This event underlines the growing uncertainty in the market, with bulls failing to defend key levels.
Key Details:
1. Liquidation Size: $6,033 long position.
2. Liquidation Price: $35.9105.
3. Market Impact: Bearish momentum is gaining traction, putting $AVAX in a vulnerable position.
Next Moves for Traders:
1. Key Levels to Watch:
Support: $35.50 and $34.80. Breaching these could intensify the downtrend.
Resistance: $36.50 and $37.20. Bulls must reclaim these zones to regain control.
2. Set Stop-Loss Levels:
For new long positions, place stop-loss orders below $35.50 to manage downside risks.
For shorts, set stop-loss levels above $36.50 to lock in gains if a rebound occurs.
3. Strategic Approach:
Monitor trading volume and broader market sentiment for signs of trend confirmation.
Use caution with leverage and prioritize risk management during this volatile period.
This liquidation highlights the importance of disciplined trading and quick adaptability.
Keep a close eye on these critical levels to navigate the $AVAX market effectively!