$ORDI Liquidated Long: $75.8K at $18.15
The market just witnessed a major liquidation event as a $75.8K long position on $ORDI got liquidated at the key $18.15 level.
This highlights significant selling pressure and volatility in the market. Such liquidations often signal the start of heightened activity as bulls and bears battle for dominance.
Key Takeaways:
1. Major Liquidation Level: $18.15 is now a critical zone. It’s where leveraged long positions faltered, indicating potential resistance if the price attempts a rebound.
2. Market Sentiment: A liquidation of this size might shake confidence among bulls, leading to further selling or cautious positioning.
3. Possible Momentum Shift: This could act as a catalyst for additional downside pressure, but it could also attract aggressive buyers looking for discounted entries.
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Next Move:
1. Monitor $18.15: Watch price action closely around this level for signs of support/resistance.
2. Risk Management: Avoid overleveraged positions as the market is prone to extreme volatility following large liquidations.
3. Set Alerts: If price drops below $17.50, it could signal more downside. A reclaim above $18.50 may suggest a recovery.
4. Consider Scaling In: If you’re bullish on $ORDI long-term, use this opportunity to gradually scale into positions at lower levels while protecting against further dips.
Stay sharp and adapt to the market’s next move!