$PNUT Short Liquidation Alert.
A massive short liquidation has just occurred for
$PNUT , with a staggering $16.306K liquidated at a price of $0.2478.
What Happened?
In a dramatic move, the market has hit a critical point where short positions were aggressively squeezed, resulting in a massive liquidation. This typically signals a powerful price action shift, as the shorts are forced to cover, causing a rapid surge in buying pressure.
The Key Levels
Liquidation Price: $0.24125
Total Liquidated: $16.306K
Short Squeeze: Shorts who were betting against PNUT had their positions liquidated, leading to intense price movements and volatility.
What Does This Mean for
$PNUT The recent liquidation could be a bullish signal for
$PNUT , as it suggests that the market is turning in favor of the long positions.
As short positions are forced to close, buying pressure typically builds up, which could push the price higher.
Possible Scenarios
Bullish Continuation: If the momentum carries on, we might see PNUT break through its next resistance levels.
Potential Pullback: After such a sharp move, there could be a slight retracement before further upward momentum.
Trade Insight:
For traders looking to ride the wave, watch out for any retracements to key levels around $0.25 to $0.23 to re-enter long positions. Keep a close eye on $0.24 as a potential support zone. If it holds, we could see further upside targets toward $0.30.
Stop Loss: For those entering now, placing a stop-loss around $0.23 is a good idea to manage risk in case of a sudden price pullback.
Conclusion:
With over $16K in liquidations,
$PNUT price action is now in focus, and the momentum could lead to some exciting opportunities for the bulls. Stay alert, because volatility is high, and fast-moving markets are always full of surprises.
#PNUT #BinanceAlphaAlert