SLX

​1. Technical Breakout (Technical Breakout)
​Resistance Breakthrough: The price successfully broke through the key resistance level in the 0.083–0.085 area.
​Triggered Buying Wave: When the resistance line was breached, numerous buy-stop orders and traders’ technical indicators were activated simultaneously, driving the price up rapidly within a short period.

​2. Volume Surge & Liquidation Squeeze
​Trading Volume Surge: The price increase was supported by a trading volume surge of up to hundreds of percent over a 24-hour period.
​Short Squeeze: In the Perpetual Futures (Perp) market, this rapid surge forced traders holding Short positions (betting on a price decline) to set stop-losses or face liquidation. The automatic liquidation of Short positions triggered forced Buy orders, further adding to the extreme upward price momentum.

​3. Why Did It Immediately Fall Again (Pump & Dump / Retracement)?
​Profit-Taking: After reaching a peak of 0.09827, short-term traders quickly carried out a correction and took profit.
​Lack of Strong Fundamental Catalysts: The increase was purely driven by short-term technical/speculative factors (momentum trading). Without fundamental news momentum to sustain the price above that level, the price quickly fell again (dump/retracement) to its former support area around 0.075–0.077.

$SLX ‌#GateHits59MillionUsers