$PNUT Long Liquidation Alert: $11.441K at $0.67592

A long liquidation has occurred at $0.67592, showing weakness in the price as leveraged buyers are losing positions.

Here's a complete breakdown of what could happen next and how to trade it:

Market Insight

1. Key Level ($0.67592):

This price marks a significant liquidation event, acting as a key resistance if the price stays below it or support if it reclaims the level.

2. Current Sentiment:

If the price continues falling, more selling pressure could follow.

A bounce from support levels might attract new buyers.

Trading Plan

Scenario 1: Bullish Move (Price Reclaims $0.67592)

Buy Zone: $0.676 - $0.680 (if the price breaks and holds above $0.67592).

Target:

First Target: $0.700

Second Target: $0.725

Stop Loss: $0.665 (to minimize risk if price dips again).

Scenario 2: Bearish Move (Price Drops Further)

Buy Zone: $0.650 - $0.660 (if the price falls and stabilizes here).

Target:

First Target: $0.675

Second Target: $0.690

Stop Loss: $0.640 (to avoid deeper losses if the price continues downward).

Key Observations

1. Volatility: Expect sharp price moves near the liquidation level as the market reacts to leveraged traders being forced out.

2. Risk Management: Always use stop-loss orders to protect your capital. Never risk more than 2% of your portfolio on a single trade.

3. Watch for Confirmation:

If the price closes above $0.67592, it shows strength and potential recovery.

If it stays below, be cautious of further declines.

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