Long Liquidation Carnage: $FIL Bulls Take a Heavy Hit!

$FIL Liquidated Long:

$92,500 Gone in Seconds!

Liquidation Price: $5.536

The Filecoin market just delivered a massive blow to over-leveraged traders!

A colossal $92.5K long position was wiped out at $5.536, marking a critical moment in the battle between bulls and bears.

What’s Happening?

The market failed to hold above key support at $5.536, forcing long traders to exit as the bears pressed their advantage.

This liquidation adds to growing pressure, with volume spikes hinting at increased sell-side dominance.

Critical Levels to Watch:

Downside: $5.40 - Next potential support zone. A break below could trigger further selling.

Upside: $5.75 - Resistance where bulls might attempt a comeback.

Traders’ Action Plan:

Short-Term: Keep an eye on $5.50-$5.40 for potential short opportunities.

Swing Traders: Wait for confirmation of trend direction before entering positions.

Risk Management: Volatility remains high—stick to disciplined stops.

Liquidations are a reminder that in crypto, only the prepared thrive. Are you ready for the next move?

Is $FIL heading to $5.40 or primed for a reversal? Drop your thoughts below!

#BinanceBNSOLPYTH #BitwiseFiles10ETFs #BitwiseFiles10ETFa #BSCOnTheRise #EthereumAwakening?