Current situation
$AXL at $0.0693** triggered **$5.2218K long liquidation, indicating significant selling pressure near this price level, and some leveraged long positions have been forcibly closed.
Current price: $0.0688 – $0.0695 range
Entry area: $0.0690 – $0.0685 (if the price confirms breaking down the $0.0690 support and selling volume increases)
Target price:
· TP1: $0.0670
· TP2: $0.0655
· TP3: $0.0640
**Stop loss position:** $0.0710
Logical analysis
This liquidation scale is moderate, occurring in the upper middle of the recent price fluctuations, suggesting that short-term bullish momentum is weakening. If the price cannot stabilize above $0.0695** and effectively breaks below **$0.0690 support, it may accelerate downward, testing the liquidity area at $0.0670** and lower levels. Attention can be given to whether a bearish rejection signal (such as a long upper shadow, volume-price divergence, etc.) appears when the price rebounds to the **$0.0695–$0.0702 range to look for entry opportunities.
#AXL #BinanceAlphaAlert