$ACX To analyze if referring to a cryptocurrency or a tradable asset and provide an organic and unique response, let’s break down the information based on the long liquidation at $0.61526. Here's the analysis.
Understanding the Situation.
1. Long Liquidation: This means traders who had bet on the price increasing long positions were forced to close their trades due to a price drop. This often signals strong selling pressure around the liquidation level.
2. Key Price Level ($0.61526): This could act as a resistance level, as it represents a zone where many long positions failed.
Technical Analysis.
Buy Zone.
Look for a support level below the current price. Based on recent market trends, the buy zone could be.
Primary Buy Zone: $0.5900 - $0.6000
Secondary Buy Zone: $0.5700 - $0.5800 if the price falls further.
Target Levels.
Set targets in stages to secure profits.
Target 1: $0.6300
Target 2: $0.6500
Target 3: $0.6800
Stop Loss.
To minimize risks, set a stop loss below the key support level.
Recommended Stop Loss: $0.5800
Next Steps for Traders.
1. Watch Volume: Look for increased buying volume in the buy zone to confirm a potential reversal.
2. Monitor Resistance: Observe price movement near $0.6150-$0.6200. A breakout above this could signal bullish momentum.
3. Risk Management: Always invest only what you can afford to lose and follow the stop-loss strictly.
Disclaimer.
This is for educational purposes only and not financial advice. Conduct your research or consult a professional before investing.
To analyze $ACX if referring to a cryptocurrency or a tradable asset and provide an organic and unique response, let’s break down the information based on the long liquidation at $0.61526. Here's the analysis.
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