$PENDLE Here’s a detailed analysis of based on the liquidation event:
Long Liquidation: $15.34K at $4.57499.
It seems like there’s been a large liquidation in the market for $PENDLE, with long positions being liquidated at $4.57499. This could signal a potential shift in market dynamics, and traders are looking for opportunities.
What Happens Next.
Price Reaction: The liquidation event can sometimes cause price volatility, either leading to a bounce or further sell-offs. In this case, watch for price behavior around $4.57.
Possible Short-Term Pullback: A potential price drop might follow as market participants react to the liquidation news, but this is often followed by a recovery if buying pressure kicks in.
Buy Zone for $PENDLE.
First Buy Zone: $4.40 to $4.50 — This is a potential area where the price could stabilize after liquidation. Look for signs of support here, such as higher lows or a bounce.
Second Buy Zone: $4.20 to $4.30 — If the price drops further, this range could be a strong support level, where buyers may step in again.
Target Levels.
Short-Term Target: $5.00 — After the potential bounce, the price could reach this level as it recovers from the liquidation dip.
Medium-Term Target: $5.50 — If $PENDLE shows strong upward momentum, this level could be the next point to watch for profit-taking or resistance.
Stop-Loss Levels.
First Stop-Loss: $4.00 — If the price breaks below this, it could signal further downside, and it would be best to cut losses.
Second Stop-Loss: $3.80 — A more conservative stop-loss to ensure protection in case the price experiences deeper corrections.
Final Thoughts.
Caution: Liquidation events often lead to high volatility. If you’re planning to enter, wait for confirmation that the market has stabilized.
Monitor Price Action: Keep an eye on the price movements and volume to decide your next move.
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