Futures Liquidations: The Shocking $113 Million Hour That Shook Crypto Markets
Massive Liquidation Event: The cryptocurrency market faced a significant upheaval with $113 million in futures liquidated within an hour, part of a larger $567 million purge over 24 hours, highlighting the volatility of crypto derivatives trading.
Causes of Liquidations: Factors such as excessive leverage, sudden market sentiment shifts, and cascading sell-offs contribute to these liquidation events, creating a self-reinforcing cycle of price declines.
Impact on the Market: Liquidations not only affect individual traders but also exert downward pressure on spot prices, leading to increased fear and potential panic selling among regular holders, which can exacerbate market volatility.
Navigating Volatility: Traders are advised to use lower leverage, implement stop-loss orders, monitor funding rates, and maintain emotional control to manage risks effectively during such volatile periods.
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Technical Analysis for IMX
Technical Sentiment Analysis for Immutable (IMX) As of , Immutable (IMX) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for IMX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, IMX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Immutable (IMX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0504 | 0.0897 | 0.13 | 0.169 | 0.209 | 0.248 | 0.288 |
| Fibonacci | 0.0897 | 0.12 | 0.139 | 0.169 | 0.199 | 0.218 | 0.248 |
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