$STX The long position was liquidated at a value of $3.4517K when the price hit $1.59358. This means a large long position was forced to close out due to price movement, and many traders were affected by this liquidation.
What's Next for $STX.
Looking at the current market conditions for $STX, here’s an overview of what you should be considering before making any decisions.
1. Current Price Analysis.
If $STX price is still around $1.59 or slightly lower, we might see a potential bounce or consolidation near this level.
Pay attention to any major shifts in market sentiment, which could push the price either higher or lower.
2. Key Levels to Watch.
Support. Around $1.50 to $1.55. If the price holds above this, a potential bounce or recovery could happen.
Resistance. $1.75 and $1.90. If price rises beyond these levels, expect upward momentum.
Buy Zone.
Buy Zone Entry. The ideal entry zone for a potential long position could be $1.50 to $1.55, especially if the price shows signs of stability or support in this range. This is where buyers could enter before a possible recovery or upward movement.
Target Levels.
Target 1. $1.75 First target zone where price could face resistance. Consider partial profits here.
Target 2 $1.90 A higher target if the price continues to rise past $1.75. This will be a key level to watch for further potential profits.
Stop Loss.
Stop Loss. Set your stop-loss around $1.40 to $1.45. If the price drops below this range, it could signal a continuation of downward movement, and your position could be at risk.
Conclusion.
Buy Zone: $1.50 to $1.55
Target Levels: $1.75 and $1.90
Stop Loss: $1.40 to $1.45
Always remember to use proper risk management strategies and adjust your stop loss accordingly to minimize losses if the market doesn't go in your favor. Stay updated on market trends, as price movements in the crypto space can be volatile.
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