🚨 $TRX Short Liquidation Alert: Bulls Are Back in Action! 🚨
A $5.55K short position has just been liquidated at $0.25134, indicating that sellers betting against $TRX were forced out. This could be a signal of bullish momentum brewing in the market. Let’s dive into the details and see how you can take advantage of this move!
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What’s Happening?
Short Liquidation: Traders betting on a price drop got squeezed, often a sign of bullish strength.
Key Level: $0.25134 now acts as a critical pivot point for the next trend.
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Buy Zone
Look to buy between $0.246 - $0.249. This zone has shown strong support in the past and could offer a great entry point for a potential rally.
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Target Levels
1. Target 1: $0.255 (Immediate Resistance)
2. Target 2: $0.260 (Bullish Continuation Target)
3. Target 3: $0.270 (Major Breakout Zone if momentum builds)
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Stop-Loss
Set your stop-loss at $0.244. A break below this level could signal further downside, so it’s best to protect your position.
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Key Market Insights
Volume Spike: Watch for an increase in trading volume near $0.249. This would confirm strong buying interest.
Momentum Watch: If breaks and holds above $0.255, it could signal the start of a stronger bullish trend.
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Risk Management is Essential!
Markets can be unpredictable after liquidations. Use proper position sizing and don’t risk more than you can afford to lose.
Be patient and look for confirmation candles near the buy zone. A breakout above $0.255 could signal the perfect time to ride the next bullish wave! Will $TRX surprise with a rally? Stay prepared and trade smart! 🚀