Market Signal: Significant Long Liquidation Activity
SPCX recorded a notable long liquidation of $21.486K at $134.08, making this one of the largest liquidation events in the supplied tape. This indicates considerable pressure on leveraged long positions around this level. The $134.08 zone is an important reference point for the next move. Initial support is around $132, followed by $129. On the upside, $136 represents the first resistance. A successful recovery above this area could bring $139 and $142 into focus. However, continued selling pressure may extend the correction. Watch for buying volume and a confirmed recovery before expecting bullish continuation.
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