Exciting Update $BONK
Long Liquidation Alert!
1.7594K longs liquidated at $0.03382.
This means that sellers have taken control, pushing prices lower and forcing long traders to close their positions.
Key Levels
1. Current price: $0.03382 (or close).
2. Support: $0.03300 (recent low area).
3. Resistance: $0.03500 (psychological barrier and recent high).
What this means
Sellers have the advantage, and the price could test the support around $0.03300.
If the price holds above the support, a bounce could follow. Otherwise, further declines are possible.
Next Step
1. If you plan to buy:
Wait for the price to stabilize near $0.03300 (support).
Target: $0.03500 (resistance).
Stop-Loss: $0.03250 (to limit losses).
2. If you plan to sell:
Sell near the resistance at $0.03500 if the price is struggling to break higher.
Set a stop-loss above $0.03550 to avoid a loss if the momentum reverses.
Keep an eye on the trading volume.
An increase in volume could indicate whether the price is going to break out or continue to fall.
Use a stop-loss to protect your investment!