$STEEM Here’s a detailed and organic analysis for based on the provided information about a significant liquidation event.

Market Overview.

A long liquidation worth $1.2421K occurred at a price of $0.26133, indicating a stop loss trigger for many traders. This suggests that selling pressure increased around this level, pushing the price lower.

Such events can often lead to volatility but also create opportunities for buyers if the price stabilizes or rebounds from a support level.

Current Scenario and Key Levels.

1. Support Zone. Buy Zone.

$0.240 to $0.260

This range could serve as a strong support since the price is near the liquidation level. Accumulation might happen here if demand increases.

2. Resistance Levels. Targets.

Target 1: $0.280 Minor resistance.

Target 2: $0.300 Psychological level.

Target 3: $0.330 Strong resistance zone.

3. Stop Loss.

Below $0.230 In case the price drops further and breaks key support levels.

Trading Strategy.

For Short Term Traders.

Entry.

Between $0.245 - $0.255 Wait for confirmation with increasing volume.

Target 1: $0.280

Target 2: $0.300

Stop Loss: $0.230

For Long Term Investors.

Entry.

Gradual accumulation in the $0.240 - $0.260 zone.

Target 1: $0.330

Target 2: $0.400 if market momentum improves.

Stop Loss: $0.220 to minimize risks.

Key Factors to Watch.

1. Market Sentiment.

Keep an eye on the broader crypto market trend. If Bitcoin and other major coins rise, STEEM might follow.

2. Volume Analysis.

Ensure there is strong buying volume near the support zone for a safer entry.

3. News and Updates.

Check for any updates related to the STEEM blockchain, partnerships, or regulatory news that could impact price movements.

Conclusion.

The long liquidation at $0.26133 suggests a critical level to monitor. If buying interest picks up, this could be a great opportunity for both short term and long-term positions.

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