$ORDI Liquidated Long: $55.5K at $26.71
A major long liquidation of $55.5K took place at $26.71, indicating potential for downward movement and a shift in market sentiment.
Entry: $26.71
The liquidation point at $26.71 is crucial for entry into short positions. This level could serve as a key pivot for further declines in $ORDI.
Target: $24.00
The next support level for $ORDI is around $24.00, providing a solid target for potential downside, offering an approximate 10% drop from the entry point.
Stop Loss: $28.00
Set a stop loss at $28.00 to limit risk if the market reverses. This level ensures protection in case of a sudden rebound.
Analysis:
The $55.5K long liquidation at $26.71 for $ORDI suggests potential downside. Watch for a move towards $24.00 while managing risk with a stop loss at $28.00.