$AUCTION Here’s a detailed explanation for based on the information provided.

1. Current Scenario.

Long Liquidation. Indicates that traders who expected $AUCTION to rise got their positions closed at $17.88011, likely due to a price drop below their entry points or liquidation levels.

Such liquidations often result in volatility and can lead to potential trend reversals or further continuation depending on market sentiment.

2. Technical Analysis Simplified.

Buy Zone.

Ideal buy zone. $16.50 - $17.00

Why. This is a potential support area based on recent market structure and liquidation levels, where price may stabilize or bounce.

Targets Short to Long Term.

1. Target 1: $18.50

2. Target 2: $19.75

3. Target 3: $21.00

Stop Loss.

Place a stop loss below $16.20 to manage risk.

3. Strategy Suggestion.

Wait for the price to enter the Buy Zone.

Monitor volume and market sentiment to confirm support.

Use a Risk to Reward Ratio of 1:2 or higher e.g., risking $1 to gain $2.

4. Key Considerations.

Keep an eye on market news or developments that could influence $AUCTION's price.

If price breaks below $16.20, re evaluate the strategy as this could signal further downside.

Use trailing stops to lock in profits if the price moves in your favor.

Final Tip.

Remember, cryptocurrency trading is risky. Use proper risk management, and avoid over-leveraging your trades. If unsure, always seek professional advice.

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