$HOT Long Liquidation: $6.7493K at $0.00299!
Details:
Type: Long Position Liquidation
Liquidated Amount: $6.7493K
Price Level: $0.00299
What Happened?
HOT experienced a sudden price drop,
triggering a $6.75K long liquidation at $0.00299. This indicates bearish pressure overwhelming buyers,
leading to forced sell-offs and adding to the downward momentum.
What’s Next?
1. Key Levels to Monitor:
Resistance: $0.0032 – Bulls need to reclaim this to regain strength.
Support: $0.0028 – Holding this level is crucial to avoid further declines.
2. Market Sentiment:
Bearish: Long liquidations point to a lack of buying support at higher levels.
Next Target: If $0.0028 breaks, HOT could slide further to $0.0025.
3. Action Plan for Traders:
For Buyers: Wait for confirmation of a bounce near $0.0028 before entering.
For Sellers: Use rallies toward $0.0032 as opportunities to short.
Conclusion:
HOT faces strong bearish pressure as liquidations deepen the drop.
Focus on $0.0028 for signs of stabilization, but prepare for potential volatility