$LPT Long Liquidation A Closer Look at $1.8988K at $19.045 What’s Next.
LPT has witnessed a long liquidation of $1.8988K at $19.045, a significant move for traders who were in long positions. If you’re looking to get in on the action now, here’s what to consider for your next steps.
Buy Zone.
The ideal buy zone for LPT can be around $17.50 to $18.00.
Why, This range represents a good support level where the price may bounce back after liquidations, allowing you to enter at a relatively safer point before a potential price rebound.
Target.
A reasonable price target for LPT could be around $22.50 to $24.00.
Why, LPT has historically shown a solid resistance around these levels, and if the market continues its upward momentum, it’s likely to push towards this zone.
Stop Loss.
A stop loss should be placed around $16.00 to $16.50.
Why, This is a key level below recent support, and if the price falls below it, it could indicate further downside risk, signaling a safe exit for your trade.
What’s Next.
Watch for Market Sentiment. The overall crypto market’s behavior will heavily influence LPT. Keep an eye on Bitcoin and major altcoins to gauge market strength.
Confirmations. Before buying, look for confirmation of a price bounce from the support zone. This can be through bullish price action, like a candlestick pattern e.g., a hammer or engulfing pattern.
Manage Risk. As always, be cautious and use appropriate position sizing to protect your capital.
Summary.
Buy Zone. $17.50 - $18.00
Target. $22.50 - $24.00
Stop Loss. $16.00 - $16.50
The market can be volatile, so make sure to stay updated with the latest price movements and adjust your strategy accordingly. Stay cautious and manage your trades well.
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