HIVE Traders Hit Hard: $1.12K Liquidated at $0.34899

The HIVE market dealt a harsh blow to long holders as $1,126.6 worth of positions were liquidated when the price plunged below the key level of $0.34899.

This sharp downturn highlights the relentless nature of the crypto market, especially for over-leveraged traders.

What Happened?

Critical Support Broken:

The price tested the $0.34899 support zone but failed to hold, triggering widespread liquidations.

Cascading Event: A potential whale or market-wide sell-off likely intensified the drop, causing a chain reaction of liquidations.

What Does This Mean?

Key Liquidation Zone: The $0.34 range is now a crucial area where buyers and sellers are locked in a fierce battle.

Volatility on the Horizon:

This move could indicate a larger trend reversal or a strategic liquidity grab before a rebound.

For Traders:

Stay vigilant—further dips may lead to additional liquidations, but sharp rebounds are also possible in this highly volatile environment.

Watch the $0.34 zone closely for potential opportunities or risks.