$IMX Liquidation Alert: $2.319K Long Liquidated at $1.2022
Immutable X (IMX) traders experience turbulence as a $2,319 long position gets liquidated at $1.2022.
This liquidation reflects mounting bearish pressure, with bulls unable to defend a key price level.
Key Details:
1. Liquidation Size: $2,319 long position.
2. Liquidation Price: $1.2022.
3. Market Sentiment: Downward pressure is building, with sellers dominating the current trend.
Next Moves for Traders:
1. Key Levels to Monitor:
Support: $1.18 and $1.15. A break below these levels could deepen the decline.
Resistance: $1.25 and $1.30. Bulls need to reclaim these levels to regain momentum.
2. Set Stop-Loss Levels:
For new long positions, set stop-loss orders below $1.18 to limit downside risks.
For shorts, use a stop-loss above $1.25 to secure profits if a reversal occurs.
3. Trading Strategy:
Focus on market trends and volume spikes to anticipate possible reversals.
Maintain a conservative approach with leverage due to heightened volatility.
This liquidation serves as a cautionary reminder of the market's unpredictability.
Stay vigilant, trade with discipline, and leverage these levels to navigate $IMX price action effectively!