$SUN A short liquidation of $3.2564K occurred at $0.02342, indicating potential bullish momentum. Liquidations generally suggest increased market volatility and possible price swings.
Technical Analysis.
1. Buy Zone.
Ideal entry range: $0.02280 to $0.02320
Wait for a minor pullback or consolidation in this range to secure a better risk to reward ratio.
2. Targets Take Profit Levels.
Target 1: $0.02400 Short term resistance.
Target 2: $0.02480 Majo resistance zone.
Target 3: $0.02550 Extension target, dependent on sustained volume.
3. Stop loss.
Place your stop loss at $0.02220, below the key support zone to manage risk in case of unexpected price drops.
Key Observations.
1. Trend Strength: The liquidation hints at a reversal or strengthening bullish trend.
2. Volume Confirmation: Ensure high trading volume supports upward price movement.
3. Market Sentiment: Monitor overall crypto market trends, especially Bitcoin and Ethereum, as their movements can affect $SUN's price.
Strategy Recommendations.
For conservative traders, wait for a confirmed breakout above $0.02360 with volume before entering.
For aggressive traders, consider buying near the $0.02300 zone, setting tight stop loss.
Keep monitoring market updates and adjust your targets as the price evolves.
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