🔴 $AAVE Longs Wrecked — $51.3K Liquidated at $170.57!
CRASH! The long side just took a brutal blow.
A massive $51,300 worth of long positions on #AAVE were liquidated at $170.57, sending shockwaves through the market and crushing the hopes of the bulls.
What happened?
Bulls were piling in, betting on continued upside, but AAVE suddenly flipped, and price dipped below critical support. As margin calls hit, liquidation selling intensified, dragging the price lower in a swift, painful move.
Why this matters:
Large liquidation events signal overleveraged positioning — the market was too bullish, and now it's paying the price.$AAVE
Liquidations trigger a wave of sell orders, pushing the price down even further.
This might be the catalyst for a larger pullback or shakeout.
Market Sentiment:
Nervous. Anxious. On edge.
This type of liquidation creates a volatile environment, with traders looking for signs of stabilization or a deeper fall.
Key Levels to Watch:
Critical Support: $165 – if it holds, bulls may attempt a bounce.
Next Resistance: $180 – needs to be reclaimed to start reversing the trend.
Bearish Risk: If $165 fails, we could be looking at a deeper drop toward $150.
Final Take:
The bulls have been wiped out, and the market is adjusting. $AAVE might continue to face pressure as long as liquidation effects linger. But keep an eye on key levels — this could be the shakeout before a reversal or the beginning of a deeper dive.
CoinCrafters — Volatility is a trader’s playground. Stay sharp.