$POL Liquidation Alert: $58K long wiped out at $0.545!
Key Market Breakdown for $POL
Liquidation Details: A $58K long position was liquidated at $0.545, reflecting significant bearish pressure on $POL.
Price Action: Heavy sell-off triggered liquidation, creating short-term volatility and a potential trading setup.
Trading Plan
Entry Point:
Look for an entry near $0.540. This level represents possible support after the liquidation cascade.
Target Levels:
First Target:
$0.565 (minor resistance).
Second Target: $0.590 (psychological resistance and recovery zone).
Stop Loss:
Place a stop at $0.525 to limit downside risk in case bearish momentum intensifies.
Actionable Insights
Volume Watch:
Track order book depth and volume spikes for confirmation near $0.540.
Volatility Strategy:
With $POL under pressure, short-term trading setups offer high reward potential.
Trend Caution:
If price breaks below $0.540, expect further sell-offs toward $0.520.