$PEOPLE Short Liquidation Update.

Breaking news for traders and crypto enthusiasts.

A massive $9.2179K worth of short positions on $PEOPLE (ConstitutionDAO) just got LIQUIDATED at the $0.04567 level. This signals significant volatility and buyer dominance in the market.

What Does This Mean.

1. Short Liquidation:

Traders betting on a price drop (shorts) were forced to close their positions as $PEOPLE price surged beyond their margin capacity. This often triggers a rapid upward price movement due to buy-back pressure from liquidated positions.

2. Price Action:

Current Level: $0.04437

Bullish momentum might persist if buyers keep stepping in.

3. Key Zones to Watch:

Support: $0.04300 (previous accumulation zone).

Resistance: $0.04650 (potential profit-taking zone).

4. Market Sentiment:

This liquidation reflects increasing bullish pressure, possibly hinting at a price rally. Be cautious of resistance levels, as the momentum may face strong sell walls.

Trading Strategy:

Buy Zone: Look for dips near $0.04300 - $0.04350.

Target: $0.04650 - $0.04800.

Stop-Loss: $0.04150 to protect against downside risk.

Pro Tip: Monitor short liquidation levels and volume spikes for signs of strong upward momentum.

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