$ETC
Long Liquidation: $1.2029K at $28.008
#ETC has experienced a long liquidation of $1.2029K at $28.008, which may signal increased downside pressure as long positions are being forced to exit. This liquidation could contribute to a correction in price if bearish sentiment takes hold.
š Current Price Action: ETC is holding at $28.008, a crucial level. If the price fails to hold here, we could see a decline toward the next support zone, possibly around $27.00 or lower. The liquidation event could lead to further selling pressure in the short term.
āļø Volume Alert: Keep an eye on volume levels. If selling volume increases, it could confirm further downside momentum. However, if volume drops or stabilizes, there may be a chance for consolidation or a reversal.
š„ Risk Management: Set stop losses around $28.00 to manage potential downside risks. If the price breaks below this level, it could signal a larger pullback, so itās essential to protect your positions accordingly.
š Upside Potential: If ETC manages to stabilize above $28 and buyers step in, a recovery toward $29.00 could be possible, with further resistance at $30.00.
The liquidation has heightened volatilityābe ready to adjust your strategy as the market shifts!