$PHA Long Liquidation: $3.7967K at $0.33392
#PHA has triggered a long liquidation of $3.7967K at $0.33392, adding to the downside pressure as long positions are forced out. This could lead to further bearish momentum if the market sentiment turns negative.
📉 Current Price Action: PHA is holding at $0.33392, and if this level does not hold, we could see a decline toward the next support zone at $0.32 or even lower. The liquidation event suggests that selling pressure may continue in the short term.
⚖️ Volume Alert: Watch for an increase in selling volume. If volume rises, it could confirm further downside momentum. However, if the volume starts to decrease, it may indicate a potential consolidation phase or reversal.
💥 Risk Management: Be cautious with long positions. If PHA dips below $0.33, a larger decline could follow. Setting stop losses around this level is essential to manage risk effectively.
🚀 Upside Potential: If PHA finds support at $0.33 and buyers step in, there could be a recovery to test resistance around $0.34 or higher. A rebound would require strong buying interest to regain momentum.
The liquidation has sparked increased volatility—adjust your strategy accordingly and watch for any shifts in market sentiment!