$PENDLE Short Liquidation Alert.

Short Liquidation Value: $5.1615K

Liquidation Price: $4.250

In a dramatic turn of events, $PENDLE shorts are feeling the heat! Traders betting against the token saw their positions wiped out as the price surged to $4.33009, triggering a massive liquidation of $5.1615K.

This significant liquidation highlights the intense volatility in the market and the risks associated with short-selling during such moments of upward momentum. Bulls have clearly taken control, driving the price higher and forcing short positions to cover losses.

What Does This Mean?

1️⃣ For Traders:

The market is showing bullish momentum, with shorts getting squeezed.

If you’re trading, this could indicate further upside potential, so watch the price action carefully.

2️⃣ For PENDLE HODLers:

This liquidation event might signal growing demand and buyer confidence in $PENDLE .

3️⃣ Caution for New Shorts:

Entering short positions now could be risky unless the market shows signs of reversal.

Key Insights:

Short Squeeze Potential:

When shorts are liquidated, it adds buying pressure as positions are forcibly closed. This can cause a rapid price spike.

Next Levels to Watch:

Resistance: $4.50 - $4.70

Support: $4.10 - $4.30

Stay sharp, traders! The crypto markets are as thrilling as ever. Manage risk and seize opportunities wisely.

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