A major market shift led to the liquidation of a $6.7521K short position on $STEEM at $0.20986.
Entry Point: The short was initiated at $0.20986, anticipating a downward correction after $S$STEEM countered a resistance zone and signs of bearish momentum.
Target: The target was set at $0.20000, based on technical indicators and market analysis pointing to a potential price decline.
Stop Loss: A stop loss was placed at $0.21500 to limit any potential losses in case STEEM broke above resistance and reversed the trend.
The STEEM market remains volatile, so ensure continuous monitoring and adjust your strategy as the price action unfolds.
A sharp market move triggered the liquidation of a $5.7374K long position on $EIGEN at $3.76867.
Entry Point: The long position was opened at $3.76867, with expectations for $E$EIGEN continue its upward momentum after breaking through a key support level.
Target: The initial target was set at $4.0000, anticipating further b ullish movement based on market trends and technical indicators showing a potential continuation.
Stop Loss: A stop loss was placed at $3.6000, ensuring protection against any unexpected downside move in the volatile EIGEN market.
With EIGEN experiencing heightened volatility, it's essential to stay alert and adapt your strategy in real time.
A dramatic shift in market dynamics resulted in the liquidation of a $21.602K short position on $BTC at $96,011.0.
Entry Point: The short position was opened at $96,011.0, expecting a pullback after $BTC encountered resistance at a major psychological level.
Target: The target for the short position was $92,000.00, based on bearish momentum and previous price action indicating potential for a reversal from the current resistance zone.
Stop Loss: A stop loss was set at $98,000.00, designed to protect against any unexpected upward breakout, ensuring the risk/reward ratio remained favorable for the short trade.
BTC remains highly volatile, so keep a close watch on the market and be ready to adjust your strategy as needed.
Key Event: Liquidation: A long position worth $66,400 was liquidated at $3,230.14.Asset: $ETH faced heightened selling pressure, triggering cascading liquidations.
Entry Point: Current price action near $3,230 indicates a pivotal level.Suggested entry for $ETH : $3,240 (on confirmation of reversal).
Bitcoin ($BTC ) at $95,372.72 (-1.84%) shows a slight short-term correction after a period of growth, reflecting typical volatility in crypto markets. As the leading cryptocurrency, Bitcoin remains a store of value, with institutional adoption supporting long-term growth, despite occasional market pullbacks.
Ethereum ($ETH ) at $3,289.52 (-0.87%) continues to lead in decentralized finance (DeFi) and smart contracts, with its transition to Ethereum 2.0 expected to address scalability issues.
While facing short-term volatility, ETH's long-term prospects remain strong due to its broad utility.
Binance Coin (#BNB ) at $650.05 (-1.60%) sees minor decline. BNB’s value is tied to Binance's dominance and the Binance Smart Chain’s growth in DeFi.
However, regulatory challenges surrounding Binance pose risks to its price stability.
$XRP at $2.21 (-0.96%) remains volatile due to ongoing legal battles with the SEC. Despite this, XRP’s use case for cross-border payments is crucial, and adoption by financial institutions keeps its relevance intact.
Solana (#SOL ) at $181.09 (+0.37%) shows slight growth, driven by its high transaction speed and low fees. Its scalability positions it as a strong competitor to Ethereum in DeFi, though network stability issues must be addressed for sustained growth.
Overall, the market shows mixed performance, with short-term fluctuations reflecting broader trends and unique challenges for each cryptocurrency.
"This post reflects personal opinions and is for informational purposes only. It should not be considered financial advice. Always do your own research and consult with a professional before making investment decisions. Some content may be sponsored."
Top coins to consider holding for the next 2 months include Bitcoin (BTC) for stability, Ethereum (ETH) for long-term growth, Polygon (MATIC) for scalability, Chainlink (LINK) for decentralized oracle solutions, and Solana (SOL) for high-speed transactions.
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Salvatore Beneze eTMo
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can you please help me to show the best coins that I suppose to buy hold it till next 2 months