The sudden drop in $LINA /USDT perpetual futures on Binance could be due to several factors:
1. Profit-taking after a rally – The price spiked to 0.000980 USDT, and traders who bought lower may have started taking profits, causing a sell-off.
2. Key moving average rejection – The price fell after touching resistance near the 7-period MA (0.000881 USDT), which might have triggered selling pressure.
3. Liquidations & stop losses – The sudden decline may have triggered stop-loss orders and liquidations of overleveraged long positions.
4. Market sentiment shift – The high 24h volume (105.15B LINA) suggests significant trading activity, which could indicate large sell orders entering the market.
5. Binance Futures announcement – The notice about contract settlement at 09:00 UTC might have led traders to close positions, increasing volatility.
If you're trading LINA/USDT, watch for potential support levels (such as the MA(99) at 0.000704 or the previous low 0.000612) and monitor market sentiment
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