🚨 $JUP Long Liquidation Alert! $9.8356K Liquidated at $1.18873!
The bulls just got caught off guard as $9,835.6 worth of long positions were liquidated at $1.18873. This major liquidation signals potential downward momentum or a bounce if buyers step in. Let’s break it down and form a trading strategy!
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Market Analysis
What Happened? The liquidation highlights weak bullish momentum, with the price falling below $1.19. Bears are in control for now.
What’s Next? Watch for further selling toward key support or a quick rebound if buyers defend critical levels.
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Trading Plan for $JUP
Sell Zone (Short Opportunity)
Look for a short entry between $1.190 - $1.200, especially if bearish pressure remains strong.
Buy Zone (Recovery Opportunity)
Consider buying between $1.170 - $1.185, where the price may stabilize and buyers could step in.
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Targets
If Shorting:
Target 1: $1.175 (immediate support)
Target 2: $1.160 (key breakdown zone)
If Buying:
Target 1: $1.200 (resistance retest)
Target 2: $1.215 (breakout extension)
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Stop Loss
For Shorts: Place your stop loss at $1.205 to protect against sudden reversals.
For Longs: Place your stop loss at $1.165 to limit losses if the downtrend continues.
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Why This Setup is Key
1. Significant Liquidation: Large long liquidations often lead to additional selling but can also trigger rebounds at strong support.
2. Critical Support Zone: $1.170 is a vital level to watch for buyer activity.
3. Volume Insight: Rising volume near $1.185 could signal a potential reversal.
If breaks above $1.200 with strong volume, it could signal a recovery rally toward higher targets. Stay focused, follow your trading plan, and always trade with proper risk management!
🚀 Will $JUP bounce back or fall further? The market action is heating up—be ready!
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