$PORTAL Here’s a detailed analysis and plan for based on the given information:
Current Situation.
Short Liquidation: $4,925.5 at $0.34378
This indicates a recent move where short traders have been liquidated, showing buying pressure at this level.
Technical Analysis.
Support Zone (Buy Zone):
Primary Buy Zone: $0.3400 to $0.3450
This zone is strong support, where buyers may likely step in.
Resistance Zone (Targets):
1. Target 1 (Short-term): $0.3600
2. Target 2 (Mid-term): $0.3800
3. Target 3 (Long-term): $0.4000
Stop-Loss Level:
Set stop-loss slightly below the support zone at $0.3300.
Trading Strategy.
For Buyers:
1. Enter at the Buy Zone $0.3400 - $0.3450.
2. Keep a stop-loss at $0.3300 to manage risk.
3. Gradually take profit at the following levels:
25% of holdings at $0.3600
50% at $0.3800
Final 25% at $0.4000
For Swing Traders:
Watch for price action near $0.34378. If the price bounces off this level, it confirms strong support, making it a good buying opportunity.
For Risk-Averse Traders:
Wait for a breakout above $0.3600. This confirms bullish momentum before entering a position.
Key Notes.
1. Always monitor market conditions and volume before entering a trade.
2. Be cautious of market manipulation, especially in small-cap cryptocurrencies like $PORTAL.
3. Adjust your stop-loss and targets based on price movements.
This strategy provides a well-rounded approach with clear buy zones, profit targets, and risk management. Let me know if you want further clarification or updates.
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