A long liquidation worth $1.67K has been triggered around $0.1672, signaling that leveraged bullish positions were forced to close as selling pressure intensified. This liquidation event clears excess leverage from the market and can increase short-term volatility before the next directional move. The immediate support is near $0.1640, while resistance stands around $0.1700–$0.1735. If buyers reclaim resistance with strong momentum, the next upside target could be $0.1780, followed by $0.1850. However, a break below support may extend the decline toward $0.1600. Stay patient, wait for confirmation, and always apply disciplined risk management before entering any trade.
