$RAYSOL recently saw a significant long liquidation of $2.1566K at the price of $4.82362. This could indicate a potential shift in market sentiment, and traders need to stay alert for any signs of trend reversal or continuation.
What’s Next for RAYSOL.
Current Market Sentiment.
After the liquidation event, price action is expected to experience volatility. Keep an eye on key support and resistance levels.
The market may be in a short term correction or consolidation phase, so it’s important to track price movements closely.
Buy Zone.
Ideal Buy Zone. $4.50 - $4.60
If the price dips to this range, it could offer a good entry point. This level has shown strong support in previous moves, and it might give traders an opportunity to enter at a discount.
Target.
First Target. $5.50
The price has the potential to move towards the $5.50 range if it breaks above the current resistance levels.
Second Target. $6.00
A strong breakout could push the price to this level, especially if bullish momentum continues.
Stop Loss.
Set Stop Loss at. $4.20
Protect your position by setting a stop loss slightly below the recent support zone. If the price falls below this level, it could signal a deeper bearish trend.
Key Points to Watch.
Volume. Pay attention to the volume at each price point. A breakout above $5.00 with increasing volume would be a strong buy signal.
Market Trends. Be cautious of any broader market trends that might impact RAYSOL, such as major news or crypto market wide movements.
Conclusion.
The liquidation of long positions at $4.82362 is an important event to watch. If the price holds above $4.50, there is potential for a bounce toward the targets. However, if it breaks below $4.20, we may see further downside. Always trade with caution and use risk management strategies like stop losses to protect your capital.
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