$SCR Short Liquidation Alert
Massive short liquidations worth $74.227K have been triggered at $0.584, indicating potential bullish momentum. Here’s a full breakdown of the possible trading zones, targets, and stop-loss levels.
Analysis & Market Sentiment
1. Short Liquidation Impact:
Short liquidations often trigger a price surge as stop-loss orders on short positions get hit, forcing market buy orders.
The $0.584 level acted as a key liquidity zone, absorbing sell pressure and pushing prices upward.
2. Support & Resistance Levels:
Immediate Support: $0.5500 – $0.5600 (If price retraces, this zone could hold strong)
Key Resistance Levels: $0.6000, $0.6300, and $0.6800
Trade Setup
Long Entry Zones:
Ideal Buy Zone: $0.5650 – $0.5750
Aggressive Entry: $0.5780 – $0.5850 (For those expecting a breakout)
Target Levels:
1. Target 1: $0.6000 (Psychological resistance)
2. Target 2: $0.6300 (Major resistance level, strong profit-taking zone)
3. Target 3: $0.6800 (Final bullish breakout target)
Stop-Loss Strategy:
Conservative SL: $0.5500 (Below key support)
Aggressive SL: $0.5380 (Below previous swing low)
Final Thoughts
With a significant short squeeze at $0.584,
$SCR may continue its bullish momentum. However, traders should watch for possible pullbacks and manage risk accordingly. If volume supports the uptrend, reaching $0.6300 or even $0.6800 is possible in the short to mid-term.
#SCR #BinanceAlphaAlert