$ME Short Liquidation: $1.5925K at $0.1924
A $1.5925K short liquidation at $0.1924 shows that bearish positions were forced to close as price moved higher. This typically signals short-term upside momentum, with shorts getting squeezed above a key resistance level.
When short liquidations occur, they can accelerate upward moves since forced buy orders add to bullish pressure. If volume remains strong, this momentum could extend toward the next resistance zone.
Traders will now watch whether $0.1924 flips into support on pullbacks. Holding above this level may confirm continued strength, while a rejection could indicate a temporary squeeze rather than a sustained breakout.
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ME
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