$PNUT It seems that a long liquidation of $7,132.6 worth of PNUT occurred at a price of $0.68921. Here's a breakdown:
What Happened?
Long Liquidation: This means traders who bet on the price going up were forced to sell because the price dropped below their margin requirements.
Key Price Level: $0.68921 is a significant level where this liquidation occurred.
Current Situation
A long liquidation often indicates selling pressure and could signal further price drops if market sentiment remains bearish.
However, if the price stabilizes or shows signs of recovery, it could attract buyers looking for a rebound.
Next Steps
1. Monitor Support Levels: Check if the price holds above $0.689 or drops further.
2. Wait for Confirmation: Look for a clear trend (uptrend or downtrend) before making a move.
3. Set Stop-Loss: If entering a position, use stop-loss orders to minimize risk.
4. News and Updates: Keep an eye on PNUT-related updates or market news that might influence price.
Let me know if you need more detailed market insights or analysis.