$HIVE Long Liquidation Alert!
Amount Liquidated: $6,377.7
Price Level: $0.41433
This liquidation indicates a significant long position wiped out, showing bearish pressure at this level. Market sentiment is shifting, and traders should stay alert to short-term volatility.
Key Observations:
1. Price Resistance: The liquidation point suggests strong selling pressure around $0.414.
2. Volume Analysis: Check for increasing selling volume to confirm bearish momentum.
3. Support Zone: Look for potential support around $0.38-$0.39 if the price dips further.
Suggested Strategy:
1. Short-Term Traders:
Watch for a retest of $0.414 as resistance.
If rejected, consider shorting with a stop-loss above $0.42.
2. Long-Term Investors:
Accumulate cautiously near $0.38-$0.39, keeping risk management in place.
Stay patient and wait for confirmation before entering trades. The market may continue to shake out weak hands before a reversal.
