LONG LIQUIDATION ALERT — $SNX UNDER SHORT-TERM BEARISH PRESSURE

$SNX Long Liquidation: $1.2964K

Liquidated at: $0.429

Around $1,296.40 worth of long positions were liquidated as $SNX price dropped to $0.429, forcing bullish traders out of their positions. This reflects short-term selling pressure and a temporary shift in market momentum.

What This Means:

Buyers expected the price to rise.

Price moved lower instead.

Long positions were automatically closed.

Momentum temporarily favors sellers.

Impacts of this liquidation:

Can increase short-term volatility

May trigger additional long liquidations

Signals temporary bearish sentiment

Although $1.3K is a relatively small liquidation, it highlights caution among bulls at this price level. Watching volume and support levels is important to gauge further risk.

Key Metrics to Monitor:

Support around $0.429

Volume trends

Open Interest changes

Funding rate adjustments

Further downside could put more long positions at risk. Manage risk carefully and DYOR.

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