$HIPPO Recently, there has been a massive short liquidation in $HIPPO, with a staggering amount of $1.9286K being liquidated at a price of $0.01036. This event could be significant for $HIPPO traders as it might lead to price fluctuations and offer some key opportunities. Here’s a simple breakdown of the next steps and the trading strategy you can consider.
What Happened.
Short Liquidation.
When short positions are forced to close due to price movements against the traders' expectations, liquidations happen. In this case, $1.9286K worth of short positions got liquidated at $0.01036.
Impact.
Such liquidations can cause the price to rise as traders who were betting against $HIPPO are now forced to buy back. This could lead to a potential price surge, but traders need to be cautious and monitor the price closely.
What’s Next.
1. Potential Price Surge.
After such a liquidation event, we could see a potential upward momentum in $HIPPO. Traders who were short will need to cover their positions, which can lead to buying pressure, pushing the price higher.
2. Watch for Consolidation.
The price might stabilize after the surge. Watch for signs of consolidation or resistance levels forming to plan your next moves.
Trading Strategy.
Buy Zone.
Key Buy Zone.
Look for an entry around $0.01000 to $0.01036. If the price shows signs of holding above this level, it could be a good entry point.
Confirmation.
Ensure there’s buying volume and the price shows no signs of dropping back below $0.01000. A confirmed upward trend will give you confidence to enter.
Target.
First Target.
Aim for the $0.01200 level as an initial resistance target.
Second Target.
If the momentum is strong, the next target could be around $0.01500, depending on how the market reacts to any resistance levels.
Stop Loss.
Set your Stop Loss at $0.00900.
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