The latest liquidation heat map of the USDT trading pair for Pepe Coin on Binance shows that the situation of leveraged traders is precarious.
As shown in the image, if the price rises to $0.0000222, over $2 million worth of PEPE/USDT leveraged orders will be on the verge of liquidation.
The heat map depicts multiple price levels where there is a concentration of liquidation risk. The heat map illustrates the volatility of high-leverage trading in the cryptocurrency market.
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This trading pattern highlights the risks associated with significant price fluctuations. It is noteworthy that even minor market movements can trigger large-scale liquidations, further exacerbating volatility.
The potential liquidations concentrated at various price points indicate that traders have adopted a layered defense strategy, with each trader prepared to stop loss at different stages of the decline.
Traders and investors should be vigilant about these critical price levels, as once liquidations begin, they can trigger a chain reaction of price declines.
This situation underscores the necessity of cautious use of leverage in highly unpredictable and rapidly changing markets.
PEPE Coin Breaks Above Resistance Trend Line
PEPE shows signs of a potential shift in momentum compared to its previous bearish trend, as evidenced by the descending triangle pattern (typically bearish) in the PEPE/USDT trading pair.
However, the recent breakout above the descending trend line has sparked interest in a potential bullish reversal.
This shift is due to the price action breaking above the trend line, accompanied by an increase in trading volume, indicating stronger buyer participation.
Maintaining above the $0.00002051 resistance level could further invalidate the bearish pattern. This could also bring potential gains for PEPE.
If this momentum continues, the price could challenge the subsequent resistance levels above $0.00002200.
The appearance of the descending triangle pattern, coupled with the critical liquidation points around these levels, suggests that PEPE may be on the verge of a more pronounced price trend.
Market participants will focus on the sustained increase in trading volume to confirm the ongoing interest, which could drive PEPE towards higher targets in the short term.
Such a move is crucial, as a decisive breakout of the resistance levels could trigger a series of buy orders.
Wave of Pepe Whale Accumulation
Over $2 million worth of leveraged Pepe orders may be in jeopardy. Therefore, if the price rises to $0.0000222, potential liquidations are imminent.
Despite the threat, Pepe coin still shows bullish signs. A significant breakout above the key resistance trend line could signal an impending rebound, piquing the interest of traders and market observers.
Recent trading activity has highlighted the influence of whales in the Pepe market.
Records show that whale wallets have been accumulating Pepe coins in large quantities. One example is a newly created wallet that purchased an astonishing 3.096 billion Pepe. This wallet acquired around $6.45 million worth of PEPE from Kucoin at an average price of $0.00002082.
This significant activity suggests that these large transactions could trigger sudden market movements.
This accumulation is part of a broader pattern, and it is speculated that influential market participants are positioning themselves for a bullish phase in PEPE.
If the price maintains above the trend line with increased trading volume, it could drive Pepe to test higher resistance levels. This would counteract the typically bearish setup of the descending triangle.
The market is currently closely monitoring these developments, closely observing how whale behavior aligns with technical predictions to drive the short-term price trajectory of Pepe.
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