$JASMY The recent short liquidation of $2.5422K at a price of $0.0373 for JASMY has caught attention in the market. This signals a possible shift in momentum, which traders are closely watching.
What to Expect Next.
After the short liquidation, we could see some price action volatility. Typically, short liquidations lead to short term price spikes, as those who short the asset are forced to cover their positions, buying back at higher prices. This could create a small surge in the price before settling down.
Key Levels to Watch.
Buy Zone.
The ideal buy zone for JASMY would be around $0.0350 to $0.0360. This area seems to provide support, and buying here could allow for a better risk to reward ratio.
Target.
A reasonable target for the upcoming move could be around $0.0400 to $0.0450, depending on how the market reacts to the short squeeze and overall market sentiment. If momentum continues, it might even test higher levels.
Stop Loss.
To manage risk, place your stop loss around $0.0330 to $0.0340. This would protect you in case the price reverses and falls below support.
Important Considerations.
Volume and Market Sentiment.
Keep an eye on volume and overall market sentiment. If volume remains high, it could indicate further bullish momentum.
Market Trends.
Monitor overall crypto market trends to see if there are any broad movements that could impact.
Conclusion.
The short liquidation has created a thrilling market setup for JASMY. Traders should look for potential entries in the $0.0350 to $0.0360 range, with targets of $0.0400 to $0.0450. Always manage your risk by setting a stop loss at $0.0330 to $0.0340. Stay alert for any signs of continued momentum or reversal.
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