$PENDLE Long Liquidation Spotted.

Liquidation Alert:

A massive long liquidation worth $1,671.6 occurred at the price of $4.937. This liquidation indicates a major shake-up in the market for PENDLE, with leveraged traders being forced out of their positions as the market turned against them.

What Does This Mean.

Liquidations happen when a trader's collateral is insufficient to cover their leveraged position. In this case:

Long Position Liquidated: The trader expected PENDLE's price to rise, but the market declined to a level where their position got liquidated.

Liquidation Price: $4.9309

Current Market Context:

Potential Cause: A sudden price drop or increased selling pressure.

Impact: This could signal increased market volatility and uncertainty.

Thrilling Twist:

Such liquidations often spark a chain reaction. Large liquidations can fuel even more selling pressure, leading to price dips. On the other hand, it might create buying opportunities for those waiting to re-enter the market.

Trading Strategy Ahead:

If you're trading PENDLE:

1. Observe Key Levels:

Support Zone: Watch for rebounds near $4.93 or lower levels.

Resistance Zone: Any upward rally might face resistance at $5.20 or higher.

2. Plan Entries Carefully:

If you're bullish, set a buy zone between $4.70–$4.90.

Place a stop-loss at $4.50 to manage risk.

Potential target zones: $5.20, $5.50, and $5.80.

3. For Bears:

Consider shorting below $4.70 if selling pressure continues.

Set a stop-loss above $5.00 and aim for lower levels near $4.30.

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