Massive Liquidation Alert: $58.5K Long Liquidated at $3.114 for $EIGEN
A significant liquidation has just occurred, shaking the market. A $58.5K long position was liquidated at the critical price of $3.114, hinting at strong selling pressure or a potential shift in momentum.
What’s Next for $EIGEN ?
1. Immediate Reaction:
The liquidation likely means a short-term increase in volatility, with prices possibly dipping further as sellers take control.
2. Key Levels to Watch:
Support Zone: $3.00 - If this level holds, a recovery could be on the horizon.
Resistance Zone: $3.20 - If prices climb back, breaking this could trigger fresh buying.
3. Market Sentiment:
Liquidation events often create panic, but savvy traders might see this as an opportunity for entry near support.
My Opinion
For Bulls: Wait for confirmation around $3.00 before entering. If it holds, consider a long position targeting $3.20 or higher.
For Bears: If $3.00 breaks, a short to $2.80 could yield decent returns.
Stay cautious and manage risks well. The next move could be decisive!
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