Market Update: $INJ Long Liquidation 🚨

A long liquidation of $6.713K happened at $21.28399, showing that the bulls are losing control. This could lead to a price pullback or consolidation. Here’s your full analysis with clear strategies for entering the market:

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Next Move Analysis

Buy Zone:

$20.80 to $21.10

Look for price to drop into this range. It offers a good entry point if the price shows signs of stabilization.

Targets:

Target 1: $22.00 (First resistance)

Target 2: $22.50 (Intermediate resistance)

Target 3: $23.00 (Key resistance level)

Stop Loss:

$20.40

Place your stop loss just below this level to protect against further downside risk.

Technical Indicators to Watch

RSI: If RSI moves above 50, it suggests a potential shift to bullish momentum.

Volume: Watch for volume to pick up near the buy zone. A high volume entry confirms more buying strength.

MACD: Look for a bullish crossover as confirmation to enter long.

Trading Strategy:

1. Enter Buy Position:

Wait for the price to dip into the Buy Zone ($20.80 - $21.10).

2. Monitor for Reversal Signs:

If price shows signs of holding above $21.10, it could signal a potential reversal or consolidation before a move upward.

3. Adjust Targets:

Take profits at each resistance level ($22.00, $22.50, $23.00) to lock in gains as the price moves higher.

4. Stick to Your Stop Loss:

If the price falls below $20.40, exit the position to minimize losses.

Market Sentiment:

The long liquidation could indicate weakening bullish sentiment, but the market might be ready for a bounce if it finds support in the buy zone. Stay cautious but keep your eyes on the potential rebound.

Disclaimer: This is for informational purposes only and not financial advice. Always conduct your own research and trade responsibly.

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