$STEEM Short Liquidation Alert!
A $1.2915K short position was liquidated at $0.31377, which could signal the start of a bullish shift in $STEEM’s price.
This short squeeze may trigger buying pressure and push prices higher.
Key Details About $STEEM:
Name: STEEM
Purpose: A decentralized social media platform that rewards users for creating and curating content.
Current Situation: Short liquidations often lead to a quick reversal in price, with the potential for an upward surge.
Support Level: $0.310 – Watch for this level to hold as it could act as a floor for the price.
Resistance Level: $0.320 – A break above this level could lead to further upward movement.
Strategy:
Buy: Consider buying if $STEEM holds above $0.310 and begins trending toward $0.320.
Stop-Loss: Set your stop-loss at $0.305 to protect yourself in case the price reverses sharply.
Sell/Wait: If $0.310 fails to hold, it’s better to wait and watch for further confirmation of a trend reversal.
Be alert around these key levels.
This could be a critical opportunity for $STEEM if the bullish momentum continues!