$XVS Here’s a detailed breakdown for Venus based on the recent short liquidation and market trends.
Current Status.
Liquidation Price: $9.72695
Liquidation Amount: $1.0544K
This indicates a recent short squeeze where sellers faced forced liquidation at $9.72. Such events often trigger volatility, with potential upside or corrective pullbacks.
Technical Analysis for $XVS.
Buy Zone. Entry Point.
Aggressive Entry.
$9.50 - $9.75 if price consolidates around liquidation level.
Safe Entry.
$9.00 - $9.30 if price corrects due to market pressure.
Targets.
Target 1. $10.20 short term resistance.
Target 2. $10.80 if momentum builds.
Target 3. $11.50 key resistance; consider partial exits here.
Stop Loss.
Place Stop Loss at $8.90 to minimize risk if the market drops below key support.
Key Observations.
1. Volume Spike.
Look for increased trading volume near $9.70 to confirm bullish momentum.
2. RSI Levels.
Check RSI Relative Strength Index on the 4-hour and daily charts. RSI > 70 indicates overbought conditions, suggesting caution.
3. Trend Support.
Ensure $XVS maintains support above $9.50 for bullish continuation.
Trading Tips.
1. Use 50 EMA Exponential Moving Average to confirm trends. A break above $10 signals further upside.
2. Keep an eye on Bitcoin and overall crypto market sentiment, as these affect altcoin performance.
3. Always follow your risk management plan don’t overleverage.
Let me know if you’d like any further insights.
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