$ETH
Ethereum (ETH) Long Liquidation Alert!
ETH has just seen a major long liquidation, with a value of $5.6479K being wiped out at a price of $2693.32. This means some traders who were betting on the price going higher were forced to exit their positions due to price drops, triggering the liquidations.
What’s next for ETH?
As of now, ETH is experiencing some volatility, but here’s a potential trading strategy based on current market conditions:
Buy Zone:$BTC
Look for buying opportunities around $2600 to $2650. If ETH pulls back to these levels, it could present a solid entry point, especially if you see price consolidation around that area. It's crucial to watch for confirmation before entering the trade (e.g., bullish candlestick patterns, or a stable price above support).
Target:
The target for ETH can be $2800 to $2900. The reason for this target range is based on previous price resistance levels. A potential rally might push ETH back to these zones.
Stop Loss:
To manage risk effectively, set a stop loss around $2550. This will help protect your position if ETH falls below that level and potentially enters a bearish trend. Always keep your risk-to-reward ratio in mind when entering trades.
Final Thoughts:
Key Support Level: $2600–$2650
Key Resistance Level: $2800–$2900
Trade Strategy: Buy near support, target resistance, and manage risk with tight stop loss.
Risk Management: Always use proper position sizing and never risk more than 1–2% of your total portfolio on a single trade.
Crypto markets are highly volatile, so keep an eye on news and events that might impact prices. Happy trading!