$ME Long Liquidation Alert!
Liquidation Amount: $6,821.1
Liquidation Price: $3.43146
A major long liquidation at $3.43146 reveals strong selling pressure, shaking out bullish traders. This move signals a potential shift in momentum, so caution is key.
Key Market Insights
1. Resistance Zone: $3.43-$3.50 is now a key resistance. Bulls need to reclaim this level to regain control.
2. Support Zone: The next major support lies at $3.20-$3.25. A break below this zone could lead to further downside.
3. Sentiment: Bearish in the short term, as liquidation reflects weakened bullish strength.
Suggested Strategy
For Short-Term Traders:
Scenario A:
If $ME fails to reclaim $3.43, consider shorting.
Entry: $3.40-$3.43
Target: $3.20
Stop-Loss: Above $3.50
Scenario B:
If ME reclaims $3.43 with strong volume, look for a breakout.
Entry: $3.45-$3.50
Target: $3.60-$3.70
Stop-Loss: Below $3.30
For Long-Term Investors:
Wait for the price to dip closer to $3.10-$3.20 before considering accumulation.
Pro Tips
1. Volume Analysis: Watch for a rise in buying volume to confirm any potential reversal.
2. Market Conditions: Stay updated on broader crypto trends; $ME 's movement may align with overall market sentiment.
3. Risk Management: Use a tight stop-loss to avoid large losses in this volatile environment.
Stay disciplined and trade smart—patience always pays off!
