$xag has just seen a significant $203K long liquidation at $58.02, which suggests a major flush of leveraged long positions. A liquidation of this size often marks a high-liquidity event where weak hands are forced out, increasing the probability of a technical rebound once selling pressure fades. I'm not interested in catching the falling price—I want to see buyers defend support and confirm a reversal.
Technically, XAG is testing a strong demand zone after the liquidation sweep. If the price starts printing higher lows and reclaims the nearest resistance with increasing volume, a recovery toward higher resistance levels becomes more likely. However, if support fails to hold, the downside could continue, so waiting for confirmation is the safer approach.
EP: $57.70 – $58.05
TP: $59.20 | $60.50 | $62.00
SL: $56.90
This setup is based on the recent liquidation event, current market structure, and nearby technical support and resistance levels. Wait for confirmation before entering any position and always manage your risk.
