A short liquidation is often a sign that the market is clearing out excessive bearish pressure, and that’s usually a healthy development for price structure. The recent $1.075K short liquidation on around $0.02837 suggests that traders betting on $PLAY further downside were forced out as price pushed upward. In my experience, these moments often inject fresh momentum because when shorts close positions, it creates additional buying pressure that can fuel the next move higher.

Right now, I’m watching this zone carefully because it sits near a previous reaction area where price has shown interest before. This region also aligns with a short term retracement level, which often becomes a strong support during consolidation phases. If this level holds, it could signal that the market is quietly building strength.

Trade Setup

Entry Zone: $0.0275 – $0.0285

Target 1: $0.031

Target 2: $0.034

Stop Loss: $0.0259

I’m watching how price behaves around this support band. If buyers defend this level, they’re building strength for a continuation move. But if the zone fails, the market could briefly dip to grab liquidity before the next trend develops.

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