🔴 1000$BONK Long Liquidation: $9.8527K at $0.01896 🔴
A massive $9.8527K long position in $BONK was liquidated at $0.01896, sending shockwaves through the market.
This liquidation highlights the risks of trading highly volatile altcoins and how quickly leverage can escalate into significant losses.
What Happened?
The trader's leveraged position was automatically closed when BONK dropped to $0.01896.
This triggered a cascade of selling pressure, emphasizing the delicate balance between risk and reward when using leverage, especially in a market like BONK which is known for rapid price movements.
Support & Resistance:
Support: $0.018 is a key support level to watch. If this holds, we could see a potential reversal or consolidation.
Resistance: The immediate resistance is at $0.020, with a stronger barrier around $0.022. A breakout above these levels could push BONK toward $0.025.
Next Move Prediction:
After this liquidation, we might see short-term consolidation around the $0.018-$0.019 range.
If buying pressure builds up, BONK could potentially break through resistance at $0.020 and challenge the $0.022 zone.
However, if bearish momentum continues, the price could dip further to $0.016 or lower.
Watch closely for volume spikes and signs of a potential trend reversal. The market is unpredictable, so be ready for rapid price fluctuations and make sure to manage risk accordingly!
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