$SOMI long liquidation reported: A trader’s long position worth approximately $3,105.7 was liquidated when the price dropped to $1.03524.
This indicates that the market moved against long holders, triggering forced closures of leveraged positions. Such liquidations often signal selling pressure and can contribute to further downside momentum if more positions are at risk. However, in some cases, heavy liquidation clusters may also mark potential local bottoms as leveraged longs get flushed out.
