Market Alert: Steem ($STEEM ) Long Liquidation Spotted.

A long liquidation worth $2,824.7 occurred at the price of $0.3056. This signifies a potential shakeout of leveraged traders who were overly optimistic about price gains. Let’s dive deeper:

What’s Happening with $STEEM

1. Price Level: The liquidation took place at $0.30318, possibly marking a crucial support or resistance zone.

2. Market Impact: Such liquidations often trigger volatility, as it adds selling pressure in the short term.

Technical Levels to Watch:

Current Price Action: Closely monitor if $STEEM stabilizes above $0.303 or breaks lower.

Key Support Zone: $0.290 - $0.300

Resistance to Break: $0.315 - $0.325

Thrill Factor: Why It’s Exciting.

Liquidations like this can signal:

1. A Trend Reversal: If selling pressure exhausts, bulls might take over.

2. Increased Volatility: High chances of price swings, creating opportunities for sharp traders.

3. Market Sentiment Shift: Heavy liquidations often indicate where traders are placing their bets, potentially revealing market biases.

Pro Tip for Traders:

Buy Zone: Consider accumulating between $0.290 - $0.300, if support holds.

Targets:

Target 1: $0.320

Target 2: $0.340

Stop-Loss: Below $0.280, to protect against further downside risks.

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