$SHIB ort liquidation on AVAX (Avalanche) worth $32.8K at $54.02 has occurred. Here’s a detailed explanation:

What Happened:

$32.8K Short Liquidation: Traders betting that AVAX’

s price would fall were forced to close their positions when the price rose to $54.02.

This happens when rising prices trigger forced buybacks to cover losses.

Impact on Price: Such liquidations often create upward pressure,

leading to a temporary price increase as shorts scramble to buy back the asset.

What’s Next?

1. Potential Uptrend: AVAX may see more gains if bullish momentum continues or if additional short positions are liquidated.

2. Resistance Levels: Watch for resistance near $55, where the rally could slow or reverse.

3. Market Sentiment: Keep an eye on broader crypto trends and news around Avalanche for further price direction.

Key Takeaway:

If you’re trading AVAX, consider the potential for continued upside but stay cautious about resistance and corrections.

Use risk management strategies to protect your investment.

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