Market Breakdown:
$ORDI Long Liquidation of $4.3917K at $26.17212 – Bulls Lose Ground
A $4.3917K long liquidation at $26.17212 has shaken the
$ORDI market, signaling a shift in momentum.
The liquidation event highlights the failure of the bullish trend at a critical level, forcing long positions to exit and paving the way for potential bearish moves.
With market volatility on the rise, traders must be cautious as the price reacts to these liquidations.
Key Details:
Liquidation Amount: $4.3917K
Liquidation Price: $26.17212
Market Sentiment: Bearish short-term, with a potential for further downward moves.
Next Moves:
For Shorts:
Entry: Below $26.00, as selling pressure intensifies.
Targets:
Initial target: $25.50 (near-term support).
Secondary target: $25.00 (major support zone).
Stop Loss: $26.50 to manage risk in case of a quick bullish reversal.
For Longs:
Entry: Above $26.30, if signs of a recovery emerge.
Targets:
Initial target: $27.00 (resistance level).
Secondary target: $28.00 (key breakout level).
Stop Loss: $25.70 to minimize downside exposure.
The $26.17 level is now critical.
Traders should keep a close watch for either further bearish action or signs of a bullish comeback.
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