$ADA Traders Shaken as $9.5K Longs Liquidated at $0.6656 – What's Next?
A sudden jolt in the market just rattled $ADA bulls, with over $9,500 worth of long positions wiped out at the critical price of $0.6656. This shakeout signals potential turbulence ahead but also opens up a golden window for smart traders.
Technical Breakdown and Fresh Analysis:
Liquidation Point: $0.6656
Market Sentiment: Fear sparked among over-leveraged long traders, creating an opportunity zone below the liquidation trap.
Buy Zone:
Watch for entry between $0.6380 – $0.6550
This area lies below the liquidation point, offering a safer re-entry once the panic cools and volume stabilizes.
Target Zones:
Target 1: $0.6840 – recovery to pre-liquidation resistance
Target 2: $0.7080 – breakout level with potential momentum push
Target 3: $0.7350 – a bullish continuation if market sentiment strengthens
Stop Loss:
Set your stop below the panic wick at $0.6220
This protects against further breakdown if $ADA fails to reclaim the mid-range channel.
Key Insight:
This liquidation event might be the final flush before a bullish reversal. Price often rebounds after wiping out weak longs. Patience and discipline are key—don’t chase, let the setup come to you.
