$LRC Long Liquidation: $5.042K at $2.345

This indicates significant selling pressure has been triggered around $2.3585.

The price might show a reaction near this level, as traders often re-enter positions or markets stabilize after liquidations.

Potential Trading Strategy.

1. Buy Zone.

Consider entering between $2.30 - $2.40, as this zone may act as a support due to the liquidation level.

2. Target Levels (Profit-taking).

Target 1: $2.50

Target 2: $2.65

Target 3: $2.80 (If momentum sustains, this is a stretch target.).

3. Stop Loss.

Set a stop-loss slightly below $2.25 to minimize losses in case of further breakdown.

Analysis.

1. Support Level: The $2.3585 level might act as support due to high liquidation activity, creating demand.

2. Resistance Levels:

Minor resistance around $2.50.

Stronger resistance near $2.65 - $2.80.

3. Trend.

Watch for any trend reversal patterns (like a double bottom or bullish engulfing candle) around the $2.30 zone.

If the price continues to drop below $2.25, it might signal further downside.

4. Volume Confirmation.

Check for increased buying volume around the buy zone to confirm bullish momentum.

Risk Management Tips.

Allocate only a small portion of your capital (e.g., 2-5%) to this trade.

Adjust targets and stop-loss levels based on real-time price movements.

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