Massive Liquidation Alert: $68.9K Short Liquidated at $1.630 for $DYDX

The market just delivered a knockout punch to the bears as a $68.9K short position got liquidated at $1.630.

This indicates a powerful surge in bullish momentum, with buyers driving prices higher and forcing sellers to exit at a loss.

What’s Driving This Move?

Short Squeeze in Play: The liquidation shows strong demand for $DYDX , catching bearish traders off-guard.

Price Momentum: A squeeze like this often leads to further upward movement as confidence builds among bulls.

What’s Next for DYDX?

1. Resistance Levels to Watch:

$1.68 - If DYDX pushes past this, expect a rally towards $1.75.

2. Support Zone to Monitor:

$1.60 - Should prices dip, this level might act as a solid base for recovery.

3. Volume Spike:

A rise in trading volume following this liquidation could confirm the bullish breakout.

My Opinion

For Bulls: Look for an entry above $1.63, but keep an eye on resistance at $1.68. A break above could offer significant upside potential.

For Bears: Avoid shorts for now unless DYDX fails to hold above $1.60, signaling a possible retracement.

$DYDX is heating up—watch closely, as the next move could be explosive!

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