🔴 $GMT Longs SMASHED — $27.7K Liquidated at $0.0555!
OUCH! The bulls just got obliterated.
A staggering $27,700 worth of long positions on #GMT were liquidated at $0.0555, sending a shockwave through the market as the price dropped sharply.
What happened?
Over-leveraged long positions were betting on a move up, but the market reversed hard. Once the price dropped through key support levels, margin calls triggered an avalanche of forced liquidations, pushing the price even lower.
Why this is crucial:
Liquidations like this add massive selling pressure — the bulls are getting crushed, and the bears are in control.
This event exposes over-leveraged positions and creates a window for potential further downside.
It’s a clear signal that sentiment was overly optimistic — the market is now resetting.
Market Sentiment:
Fear. Caution. Uncertainty.
With $GMT facing serious pressure, traders are on edge, watching the charts closely for signs of a potential bounce or continued bleed.
Key Levels to Watch:
Support Zone: $0.0520 – if this holds, we could see a stabilization.
Resistance Test: $0.0600 – a reclaim of this level could signal a potential bounce.
Breakdown Risk: If $0.0520 fails, the next major support is at $0.0480.
Final Take:
#GMT bulls have been wiped out, and the bears are dominating. But as liquidation pressures settle, the next move is critical. Will we see a quick reversal or more downside? This is the zone where traders are tested.$GMT
CoinCrafters — Stay sharp, stay strategic. The market rewards the prepared.