$UXLINK What’s Happening? $UXLINK has seen a significant short liquidation event, with over $10K worth of positions getting liquidated at a price of $1.18112. This suggests strong market movement, likely triggered by the forced closure of short positions.
What Could Happen Next.
1. Potential for Price Reversal: After a short liquidation, the price often experiences a brief spike or reversal as those who were betting against the asset get forced out, creating buying pressure.
2. Price Correction: The market might correct after the spike, but this depends on the overall market sentiment and whether the buying pressure is sustained.
Buy Zone.
Look for a potential entry around $1.15 - $1.17. This range could provide a good opportunity for those looking to catch the next possible upward movement. Watch for signs of support in this area.
Target.
The first target could be around $1.25, as it's a potential resistance level based on recent price action. If the trend remains bullish, we could see a move towards $1.30 - $1.35.
Stop Loss.
To minimize risk, set a stop-loss around $1.12. This will help protect against a larger downward move if the price fails to maintain its upward momentum.
Summary.
Buy Zone: $1.15 - $1.17
Target: $1.25 (potential for higher)
Stop Loss: $1.12
Always remember, crypto markets can be volatile. Do your own research and never invest more than you’re willing to lose.
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