$STEEM Long Liquidation Alert: $1.1597K at $0.29975
The current situation around steem is quite intriguing, as we've seen a liquidation of $1.1597K at a price of $0.29975.
If you're looking to trade or invest in
$STEEM , let's break down the key points to consider next.
What’s Happening?
The recent liquidation is a result of a sell-off, which might indicate that the market is facing some resistance or correction.
This could provide a potential entry point for those looking to buy at lower prices, or for traders who like to take advantage of market swings.
Buy Zone
Look for a price range between $0.280 to $0.290 to enter a position.
If the price falls below $0.280, there may be more downside risk, so stay cautious.
Target
A reasonable target would be around $0.350 to $0.370, where the price might face resistance again.
This could provide a solid 20-30% profit if you enter at the right time.
Stop Loss
Set your stop loss around $0.270, below the recent liquidation price.
This will protect your position if the market moves against you and helps limit potential losses.
Why This Could Work
If
$STEEM shows signs of bouncing back from these levels, there's a good opportunity for a short-term gain.
However, make sure you watch for any signs of reversal or unexpected news that might affect the market direction.
Conclusion
The recent liquidation of
$STEEM is an important event, and it might be presenting an opportunity to enter at lower prices.
Keep an eye on your buy zone, set your target, and don’t forget the stop loss to manage your risk.
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