$STEEM Short Liquidation Alert!
Liquidation Amount: $3,581
Liquidation Price: $0.30482
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Key Details:
1. A $3.58K short position was liquidated at $0.30482, highlighting strong bullish momentum as shorts got squeezed out of the market.
2. The $0.30 level, a psychological and technical barrier, has been breached, signaling a possible trend shift in favor of buyers.
3. This liquidation indicates increased volatility, with the potential for further upward pressure if buyers capitalize on this momentum.$STEEM
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Next Move:
For Bulls:
1. Reentry Opportunity: Look for a pullback to the $0.30-$0.305 zone for confirmation before entering long positions.
2. Stop Loss: Place a stop below $0.295 to manage downside risks.
3. Upside Targets:
Immediate: $0.32 (short-term resistance).
Extended: $0.34-$0.35 if bullish momentum continues.
For Bears:
1. Short Setup: Consider shorting only if $0.305-$0.31 gets rejected, signaling exhaustion.
2. Stop Loss: Keep a stop above $0.315 to avoid further squeezes.
3. Targets:
Short-term downside: $0.29-$0.295.
Stronger support: $0.28 if selling resumes.
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Market Outlook:
With a short liquidation of this magnitude, $0.30 is now a critical support level to watch. If buyers hold above it, further gains are likely.
Failing to sustain above $0.30 could lead to a pullback as bears attempt to regain control.
Keep an eye on trading volume and open interest to assess whether this rally has legs or is losing steam.$STEEM
Trade smart and stay ahead of the market!