🚨 $ETH Long Liquidation Alert! 🚨
A $69.74K long liquidation just happened at $3429.64! The market has hit a key turning point, and this could be a huge opportunity for traders looking to jump on the next move. Let’s break down what’s happening and what to expect next!
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Market Overview:
This liquidation shows the pressure on traders who had bet on $ETH rising, with positions being forced to close.
Liquidation events like this often trigger price corrections but also create strong buying opportunities when the market finds support.
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Buy Zone:
$3400 - $3450 is a key area to watch for a potential bounce. This zone could hold as support and allow buyers to step in.
If the price drops further, $3250 - $3300 could be the next level where support could form, giving another chance for entry.
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Targets:
Target 1: $3550
Target 2: $3700
Target 3 (Major Resistance): $3800
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Stop Loss:
Place your stop loss at $3200 to protect your position in case the market continues to drop after the liquidation.
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What’s Next?
1. Volume Surge: Keep an eye on buying volume around the $3400 - $3450 zone. If volume increases here, it could signal that bulls are stepping in.
2. Breakout Levels: If $ETH breaks above $3550, watch for a potential move to $3700 and $3800, with $3800 being a strong resistance point.
3. Support Watch: If $3400 doesn’t hold, watch for support at $3250 - $3300, which could offer another chance to enter.
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Liquidations can trigger sharp price action, but it’s important to trade with caution. Always have a solid risk management plan in place!
Will ETH recover and surge higher, or is the market still in a bearish phase? Watch the price action closely, stay disciplined, and be ready to make your move when the time is right! Opportunities are everywhere—be ready to seize them!
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