🔴 $GALA Long Liquidation just hit — watch this level closely 👀
A long liquidation of ~$1.85K at $0.00614 just flushed out weak hands on $GALA. These liquidation wicks often act as a reset, clearing leverage and setting the stage for a cleaner move.
📊 What This Means for GALA
Liquidity Sweep:
Price dipped into a liquidity pocket around $0.00614, triggering stops and forced liquidations.
Leverage Reset:
When longs get liquidated, open interest drops. This removes downside pressure and gives spot buyers room to step in.
Key Reaction Zone:
This level now becomes important. If GALA holds above or quickly reclaims $0.00614, it’s a strong sign of buyer strength.
📈 Possible Trade Perspective (Not Financial Advice)
Bullish Scenario:
Strong bounce and hold above $0.00610–$0.00615 → potential move back toward $0.00640 – $0.00660
Bearish Scenario:
Acceptance below $0.00610 with volume → next demand likely lower, patience required.
⚠️ Risk Reminder
Liquidations create volatility. Don’t rush trades — wait for confirmation, not emotions. Let the market show its hand first.
Liquidation events like this often mark local bottoms or strong reaction zones. Keep GALA on your watchlist — the next move could be decisive. 🔍🔥
