A $91.258K short liquidation at $0.95 on $FIL shows a strong squeeze on bearish traders as price pushed higher. I see this correction as healthy because liquidations remove excessive short leverage and help the market rebuild momentum. When shorts get forced out, it often means buyers are stepping in and absorbing the pressure.
Right now I’m watching the $0.92–$0.96 zone. This area previously acted as a support and reaction level where price bounced earlier. It also lines up with a recent retracement area where the market showed buying interest. If this level holds, they’re building strength for another move higher.
Trade Setup I’m Watching
Entry Zone: $0.92 – $0.96
Target 1: $1.05
Target 2: $1.15
Stop Loss: $0.88
If this support holds, Filecoin could stabilize here and attempt another upward expansion.