$HEI
Short Liquidation – What Happened?
HEI (presumably referring to a cryptocurrency or token) just experienced a huge short liquidation of $5,076.8K at a price of $0.57944. This means that many traders who were betting against HEI (short positions) had to liquidate their positions when the price rose, leading to a massive loss for them. As a result, this could push the price even higher.
What’s Likely to Happen Next?
Short Squeeze Impact: The short squeeze triggered by this liquidation could send the price even higher. When a large number of traders are forced to cover their short positions by buying back into the market, it creates more buying pressure, which can drive the price up further.
Market Sentiment: If positive sentiment continues, traders may see this as an opportunity to buy into the market, expecting higher prices in the future.
Buy Zone (Ideal Entry Price)
For those looking to buy HEI, the ideal buy zone could be between $0.55 and $0.58. Here’s why:
Support Zone: This price range is near previous support levels, so it might hold if the price retraces a little after the spike.
Possible Pullback: After a short liquidation event, it’s common for the price to pull back a bit before continuing upwards. If HEI dips to these levels, it could present a good entry point.
Target (Where Could It Go?)
If HEI continues to show strong momentum, here are the key target levels to watch:
$0.60 - $0.65: This is the first major resistance zone. If HEI pushes through, it could head higher.
$0.70 - $0.75: If the bullish trend remains strong, HEI could eventually reach this range, which will be a strong test of the market's strength.
Stop Loss (Managing Risk)
To keep your risk in check, a stop loss should be set just below the recent support level:
Safe Stop Loss Range: Consider setting a stop loss between $0.50 - $0.52. This gives the trade some room to breathe but still protects you in case the price drops.
Trailing Stop: As the price rises,