Massive $OP Short Liquidation Alert.

The crypto market just witnessed a huge short liquidation of $66.591K in $OP, occurring at a key price level of $1.895.

What Happened?

A wave of short positions got wiped out as the price of $OP hit $1.91314, triggering a liquidation cascade. Traders who bet against the price movement have been forced to close their positions, contributing to a significant price spike and a short squeeze.

Key Info:

Total Short Liquidation: $66.591K

Liquidation Price: $1.91314

Market Impact: When a large number of short positions are liquidated, it creates upward pressure on the price, leading to rapid price changes and heightened volatility. This could signal further moves in the price of $OP.

What to Watch: If the price continues to hold above $1.91314, we could see more short positions getting squeezed, causing a potential rally. On the flip side, if $OP fails to maintain this level, we may witness a pullback.

Are we looking at more price action ahead? Stay tuned and keep an eye on those key levels.

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