$RARE The token experienced a long liquidation of $9.1578K at $0.11049, which indicates that long traders were forced to close their positions due to a price drop. Here's a detailed breakdown and analysis for the next steps:
What Happened.
Long Liquidation: This occurs when the price drops below a specific level, forcing traders to sell their positions to avoid further losses.
The significant liquidation suggests a potential shift in market sentiment, with bears taking control temporarily.
Next Steps: Key Levels to Watch.
1. Buy Zone (Support Levels):
Primary Buy Zone: $0.105 - $0.110 (Strong demand area where buyers may enter).
Secondary Buy Zone: $0.095 - $0.100 (If the price breaks below the primary zone).
2. Targets (Resistance Levels):
First Target (T1): $0.120 (Short-term recovery zone).
Second Target (T2): $0.130 (Medium-term resistance level).
Third Target (T3): $0.140 (Long-term bullish breakout zone).
3. Stop-Loss Levels:
If entering at $0.110, set a stop-loss at $0.104 to minimize risk.
For positions at $0.100, use a stop-loss at $0.093.
Key Indicators to Monitor:
1. Volume: Increasing buy volume near $0.110 indicates a reversal.
2. RSI (Relative Strength Index): If RSI is below 30, it suggests oversold conditions and a potential bounce.
3. Moving Averages: Watch the 50-day and 200-day moving averages for trend confirmation.
Trading Strategy:
Short-Term Traders: Enter near $0.110 with a target of $0.120 and stop-loss at $0.104.
Long-Term Investors: Accumulate positions in the range of $0.095 - $0.110 with a target of $0.130 - $0.140.
Risk Management:
Only invest what you can afford to lose. Use proper stop-loss levels to protect against sudden market reversals.
Keep an eye on broader market conditions and news updates for $RARE to stay ahead of market movements.
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