$RVN There has been a long liquidation of $10.93K at $0.02066 in the market for Ravencoin ($RVN). This is a big event that shows many traders who bought long positions at that price are now being forced to sell, which can lead to price movements.
What’s Next for $RVN.
The liquidation at $0.02066 has put pressure on the market. However, we could see a potential bounce or breakdown depending on how the market reacts.
Buy Zone.
If you’re looking to enter a position, keep an eye on these levels:
Primary Buy Zone: Around $0.01900 - $0.01950. This area could offer some support as traders might be willing to step in and buy if the price dips here.
Secondary Buy Zone: If the price falls lower, $0.01800 could be a solid entry point. Be patient, as the market can move fast.
Target.
The initial target for $RVN can be around $0.02250 - $0.02300. Watch for resistance in this range, where profit-taking might occur.
Long-term target: If the bullish trend continues, we could aim for $0.02500 - $0.02700, but always monitor for changes in the market conditions.
Stop Loss.
To minimize risk, set your stop-loss at $0.01700. This level ensures that if the price goes below it, your position is automatically closed, protecting you from further losses.
Conclusion: $RVN is showing some strong price action after the liquidation. Be cautious and always do your own research before making trading decisions.
Ensure your entry and exit points align with your risk management strategy.
Stay safe and good luck with your trades.
This post provides a clear view of the situation, using simple words and actionable insights for your next steps in trading.
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