$RVN Just shook – Long positions wiped at $0.01494
A brutal long liquidation of $2.35K at $0.01494 indicates fear, but also opportunity. When weak hands capitulate, smart money is preparing.
What just happened?
The recent liquidation suggests that leveraged long positions were caught off guard during a sharp price drop, likely triggered by a sudden sell-off or whale movement. This process creates a pocket of liquidity - an area of interest for reversals or accumulation zones.
Technical analysis and strategy
Buy zone:
$0.01380 to $0.01420
This is the main support range based on historical demand, large volume contracts, and open interest. A bounce back or double touch in this area may invite a bullish reaction.
Target levels:
Target 1: $0.01620 (Local resistance and first Fibonacci retracement)
Target 2: $0.01740 (Previous breakdown level)
Target 3: $0.01890 (Overall swing resistance and confirmation of breakout)
Stop loss:
Under $0.01350
A breakdown below this level invalidates the current bullish structure and confirms ongoing downward pressure.
Why this matters:
The liquidation level at $0.01494 may now act as a price magnet. If bulls reclaim this level with strong volume, we may see a quick move towards higher targets. However, rejection here could trap more long positions and cause another drop.
Final thoughts:
Raven Coin shows volatility that traders crave. The recent liquidation is not a sign of panic, but a notice to be ready. Watch the volume, prepare for levels, and respect your stop points. The next big move is loading.
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