$ALGO has experienced a liquidated long position of $71.1K at $0.383, indicating potential bearish momentum.
The market could be poised for further downside, making this a viable opportunity for a short position.
Entry Point: Enter a short position around $0.380 to $0.385 for an optimal entry.
Stop Loss: Place the stop loss above $0.390 to limit risk in case of a reversal.
Target: Set the target at $0.350, where support is likely to emerge.
$ALGO is under pressure following the liquidation, and the price could continue to drop.
Monitor for confirmation of the bearish trend before entering a short.