Thrilling Update on $CELO Short Liquidation.
Big Move Alert. A massive short liquidation of $2,466 occurred at the price of $0.7173 for $CELO. This suggests a significant shift in market sentiment as traders betting against the asset got liquidated.
What Does This Mean.
1. Short Liquidation: This happens when traders who have shorted an asset (bet on its price falling) are forced to close their positions due to price increases.
2. Price Level Insight: The $0.721 level is acting as a key resistance where short positions were vulnerable. Breaking this level might trigger further upward momentum.
3. Market Sentiment: Such liquidations often indicate bullish momentum, as buyers overpower sellers.
Key Levels to Watch.
Support Zone: $0.690 - $0.705
Resistance Zone: $0.730 - $0.750
Potential Breakout Target: $0.780 - $0.800
What’s Next for $CELO
If bullish momentum continues, we could see increased buying pressure leading to new highs.
However, if sellers regain control, the price might test lower support levels.
Stay vigilant and keep your eyes on the charts this could be a thrilling ride for $CELO traders.
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