$AVAX What Happened. A huge $25.198K long position was liquidated at the price of $40.7732 on $AVAX. Liquidation like this signals that many traders got caught off-guard, as they were betting on the price to go up. But the price hit a level where their positions were forced to close automatically, which means heavy selling pressure could be in play now.
What’s Next.
The price might experience a pullback or correction after such a big liquidation.
Watch for support levels and resistance zones as they will be crucial in deciding the next move.
Buy Zone.
Look for buying opportunities around $36.50 to $38.00. This range has been historically significant and could act as support. If $AVAX holds here, it might bounce back up.
Target.
If the price moves upward, the target zone could be $45.00 to $47.00, based on previous resistance points. A solid rally might push towards these levels.
Stop Loss.
To manage risk, consider setting a stop loss around $35.00. This helps protect your capital if the market doesn’t move in your favor and falls below the buy zone.
Key Points to Watch.
Volume.
Watch if there’s a strong volume pickup at the support zone.
Market Sentiment.
Keep an eye on the overall market trend for any major news or developments that could affect $AVAX.
Summary.
Buy Zone: $36.50 - $38.00
Target: $45.00 - $47.00
Stop Loss: $35.00
Monitor closely for the next big move and trade carefully. Happy Trading.
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