$USUAL Long Liquidation: What’s Next?
A massive long liquidation just hit $USUAL, with $8.2559K liquidated at $0.91692. This liquidation could be the start of a deeper move down, or maybe it’s just a temporary pullback before the bulls strike again. Let’s analyze what’s next and how you can make your move!
What’s Happening?
The liquidation signals that long positions are getting wiped out, and this could mean some downward pressure.
However, it could also lead to a potential reversal if support holds and buyers come back in.
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Key Levels to Watch
1. Buy Zone:
The $0.850 - $0.870 range is an important support area. If the price drops here, it could be a good place to enter, as it has held in the past. This zone could offer a solid entry for the next bounce.
2. Target Levels:
Short-Term Target: $0.950
Mid-Term Target: $1.00
These levels are key resistance points and could be strong profit-taking areas if the price moves upward.
3. Stop Loss:
Set your stop loss at $0.820 to protect yourself in case the price breaks below the support zone and falls further.
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Strategy to Follow
Conservative Traders: Wait for confirmation that the price is bouncing from the buy zone, such as a strong bullish candlestick or volume surge.
Aggressive Traders: If you’re confident in a quick bounce, consider entering near the buy zone and aim for a quick rise to the first target of $0.950.
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Final Thoughts
$USUAL ’s long liquidation has created a lot of uncertainty in the market, but it’s also setting up a potential opportunity for buyers. If the price holds key support levels, we might see a strong recovery. Always manage your risk and stick to your stop loss to protect against big moves.
Stay cautious, but ready to act when the market gives you an opening!
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