$USUAL Short Liquidation: $12.674K at $1.0637 - What’s Next.
Overview: Currently, there's a major short liquidation happening in the $USUAL market, with a huge liquidation of $12.674K occurring at the price of $1.06041. This can often signal a potential price shift, as liquidations tend to lead to price movements due to the unwinding of positions.
What’s Next for $USUAL. The short liquidation could indicate that the market might push higher, as traders who were betting on a price drop (short positions) are now forced to close their positions, which can cause buying pressure.
Key Levels to Watch.
1. Buy Zone: The ideal buy zone would be around $1.050 - $1.060. If the price dips into this range, it might be a great opportunity to enter a long position, especially considering the short liquidation effect. However, wait for signs of price stability before entering.
2. Target: The first target after entering a position would be around $1.090 - $1.100. This is where previous price action shows some resistance, and it's a reasonable area to take profits. If the price continues to rise, the next target could be $1.120, which is another key resistance level.
3. Stop Loss: A good stop-loss level to protect your trade would be around $1.040. This would limit your losses in case the market turns against you. You want to set a stop-loss just below the recent low to ensure you're protected if the price starts moving downward.
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