Massive Liquidation Alert: #MELANIA Hit with $4.67K Long Liquidation at $1.821.
The market just witnessed a significant long liquidation in $MELANIA, with $4.67K worth of positions getting wiped out at $1.821. This sudden flush suggests intense volatility and possible liquidity hunting by bigger players.
What Just Happened?
1. Liquidation of Longs: Traders who had entered long positions at higher levels faced forced liquidation, triggering a cascading effect.
2. Support Breach: The liquidation level at $1.821 indicates that a critical short-term support level was broken.
3. Market Manipulation? This could be a classic move by whales to grab liquidity before a reversal or further downside.
Key Technical Analysis.
Immediate Resistance: If price bounces, the first hurdle will be around $1.85 - $1.88, where trapped longs might sell.
Support Zone: If selling pressure continues, the next major support lies near $1.75 - $1.78, a potential entry zone for buyers.
Trend Outlook: A sharp bounce from this zone could indicate a liquidity grab, while further breakdown could accelerate selling.
What’s Next.
If bulls regain control, we might see a strong reversal above $1.85, trapping late shorts. However, failure to reclaim lost ground could lead to another wave of liquidations below $1.80.
Traders must watch for volume spikes and reaction at key levels before making their next move. The battle between bulls and bears is heating up.