🚨 $ORDI Short Liquidation Crisis! 🚨
⚡️ Hold onto your seats! A massive short liquidation just occurred on $ORDI, with a whopping $1.0746K getting liquidated at $11.18.! The market is shaking, and this sudden surge could mean a game-changing shift in price action. What's next for $ORDI? 🧐
💥 Details:
Amount Liquidated: $1.0746K
Price at Liquidation: $11.18.
Market Impact: This liquidation could ignite a short squeeze, pushing prices higher as traders scramble to cover their positions. It's a perfect storm for volatility!
💡 What does this mean? When short positions get liquidated, it often causes a short squeeze, where the price skyrockets as short-sellers are forced to buy back their positions, fueling the upward momentum. This creates rapid price spikes that can be both thrilling and risky for traders in the market. 🚀
🔎 What should you watch for?
Support Level: Watch for $11.00 to see if this becomes a base for the current uptrend.
Resistance Levels: $12.00 could be a strong level to watch for potential pullbacks or consolidation.
Potential for a Short Squeeze: With the recent liquidation, could see more upward movement as other short sellers might be forced to close their positions.