$VIRTUAL Alert: Major Short Liquidation Hits at $2.3494 — Total $5,142.8 Liquidated
The $VIRTUAL market just witnessed a sharp short liquidation worth $5.1428K at the critical level of $2.3494, indicating a strong bullish thrust and panic exits from over-leveraged short positions.
What's Really Happening?
This sudden liquidation points to a bullish momentum surge, as bears got squeezed and forced to cover positions. Price action around the $2.34 zone is heating up, and a potential breakout might be brewing.
Technical Analysis
Buy Zone
$2.20 - $2.30
This is the accumulation zone where bulls could reload. A dip into this zone would present a high-reward entry, given the liquidation spike.
Target Zones
1. Target 1: $2.55 – First resistance area where previous supply pressure existed.
2. Target 2: $2.72 – Momentum continuation target.
3. Target 3: $2.95 – Psychological and structural breakout point. High potential for explosive rally if broken.
Stop Loss
$2.10
Set tight risk management here. A breakdown below this level could invalidate the current bullish setup.
Conclusion
This liquidation event could be the spark before a rally. With $5K+ of shorts wiped out, the path upward seems more open. Smart money might already be positioning in the buy zone, aiming to ride the wave toward $2.95.
Stay focused, and don’t blink — the $VIRTUAL chart just got very real.