$PERP Long Liquidation Alert: Major Flush at $0.2741 with $1.81K Wipeout
A sharp long liquidation just occurred on $PERP at the $0.2741 level, shaking out leveraged bulls with a loss of $1.8181K. This kind of liquidation often signals panic exits and sets the stage for potential high-volatility rebounds or deeper corrections. Here's a complete breakdown and unique technical outlook:
Technical Analysis: $PERP /USDT
Current Market Sentiment:
Highly reactive after the long liquidation. Traders are uncertain, and the market is in a potential reversal zone. Volume spikes and wick traps indicate possible whale manipulation or mass stop-outs.
Buy Zone (Accumulation Zone):
$0.2660 to $0.2745
This zone is critical. Price could retest this area to form a double bottom or shake out more weak hands before attempting a reversal.
Target Levels:
First Target: $0.2960 — A key horizontal resistance and the first liquidity pool above the current range.
Second Target: $0.3145 — Prior support turned resistance. Likely to act as a profit-taking zone.
Third Target (Extended): $0.3410 — This is the breakout level if momentum returns to bulls.
Stop-Loss Level:
$0.2580
Placing the stop just below the accumulation zone protects against a fake breakdown and confirms breakdown continuation if triggered.
Market Strategy & Outlook:
This liquidation could be the final washout before a trend reversal, a classic move in crypto markets. The structure suggests a short-term bounce is likely, especially if PERP holds above $0.2660. However, failure to reclaim the $0.2840 range quickly could mean more downside or a slow bleed.
Verdict:
High-risk, high-reward zone. Only for disciplined traders. If bulls reclaim momentum above $0.2840, a sharp recovery rally could be underway. Watch for volume confirmation.