$TON Here’s a thrilling post on the recent short liquidation and potential trading strategy.
Short Liquidation Alert.
A massive short liquidation of $10.869K occurred at the price of $5.79647! This could signal a significant shift in the market.
What's Happening.
When shorts get liquidated, it often leads to rapid price movements as positions are forced to close. This type of event could trigger either a rally or further price volatility, depending on market sentiment.
What's Next.
After the liquidation, there's a chance that $TON could experience some bullish momentum. However, be cautious this is a volatile scenario.
Here’s a breakdown of the next potential moves.
Buy Zone.
Look for entry around $5.80 to $5.90. If $TON holds above this zone, it could push higher. This range is a good spot for buying if the market shows strength.
Target.
$6.50 to $6.80: After the liquidation event, the price might rally up to these levels. Watch the resistance points as they could be the next key areas to watch.
Stop Loss.
$5.50: Set your stop loss at $5.50. If the price drops below this level, it could indicate a reversal, and it’s safer to exit the position to prevent larger losses.
Important Considerations.
Price Action: Keep an eye on $TON's immediate price action. If it breaks key support levels, it could indicate further downside.
Volume: Pay attention to trading volume. High volume often confirms a strong trend, while low volume could indicate a false breakout or trend reversal.
Stay safe and trade smart.
This simple breakdown will help you track the price movements and make informed decisions.
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