🚨 $FET Short Liquidation Alert! 🚨
Event: A $7.3667K short liquidation at $1.45904 has triggered a surge in buying pressure. This could be the start of a powerful price movement, as traders rush to cover their short positions. It's time to look for a possible breakout opportunity!
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🔍 What's Happening?
When shorts are liquidated, it often leads to a price surge as buying accelerates. This could be the beginning of a bullish trend, but it’s essential to wait for confirmation of a strong upward move before jumping in.
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📉 Buy Zone:
$1.45 - $1.47
Watch for the price to stabilize in this range. If it holds above these levels, it could indicate a strong bullish continuation.
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🎯 Targets:
Target 1: $1.50
Target 2: $1.55
Target 3: $1.60
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🛑 Stop Loss:
$1.42
Set your stop loss below key support to protect against any sudden market shifts that could trigger a downside move.
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⚡ Key Insights:
1. Support Zone: $1.45 - $1.47 is critical for confirming bullish momentum. If the price bounces from this range, expect a possible push to $1.50 and higher.
2. Resistance Levels: Watch resistance at $1.50 and $1.55. A breakout above these levels would suggest that the uptrend is gaining strength.
3. Volume: Pay attention to volume. A significant volume increase during the price move will confirm that the rally is gaining real momentum.
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📊 Next Move:
If $1.45 - $1.47 holds as support, look for the price to move toward $1.50 and possibly $1.55.
A break below $1.42 could signal that the price may retrace further, so adjust your strategy accordingly.
After a short liquidation, don’t rush in. Wait for the price to confirm support and momentum before entering. Always protect your position with a stop loss!
Stay alert and trade wisely! Let me know if you need more analysis or updates!
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