$OP Long Liquidation: $5.5795K at $1.839

OP has faced a long liquidation at $1.839, signaling strong bearish momentum as long traders are forced to exit their positions. This could be a chance to prepare for the next potential move.

📊 What’s Next for $OP ?

1️⃣ Buy Zone:

Watch for a possible bounce in the range of $1.70 - $1.75, which may act as a key support zone where buyers could step in.

2️⃣ Targets 🎯:

Target 1: $1.90 – The first resistance level, where price may face some challenges.

Target 2: $2.05 – A higher target for those aiming for a longer move upwards.

Target 3: $2.20 – A critical breakout level to watch if bullish momentum continues.

3️⃣ Stop Loss:

Set a stop loss below $1.65 to manage risk in case the price continues to drop further.

📉 Why This Happened:

Liquidation Pressure: Overleveraged buyers were forced to sell, triggering the drop.

Weak Support: The support at $1.839 couldn't hold, pushing price lower.

Market Sentiment: A temporary shift in market sentiment led to the liquidation of long positions.

⚡ Trading Strategy:

For Bulls: If $OP shows signs of recovery at the $1.70 - $1.75 support zone, look for a potential entry with targets at $1.90 and $2.05.

For Bears: If the price breaks below $1.70, consider shorting with targets around $1.60 or lower.

Risk Management: Use tight stop losses to minimize risk, especially in volatile conditions.

🚀 Final Thoughts:

The liquidation in OP suggests a bearish outlook in the short term. However,

watch for support levels at $1.70 - $1.75, as this could offer a good buying opportunity if price starts to reverse. Stay cautious, and always trade with a solid plan!

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