#Nilinbinance

Breaking News: $NIL Short Liquidation at $0.710 – Major Move Incoming!

A massive short liquidation of $1.2533K just hit at $0.710, indicating strong buying pressure. This could trigger a breakout or a sharp reversal. Here’s a full analysis:

Market Analysis:

Current Price Action: The price hitting $0.710 suggests strong demand at this level, wiping out short positions.

Liquidity Impact: A short liquidation means sellers were forced to buy back, potentially fueling an upward move.

Momentum Shift: If the buying pressure sustains, we could see a breakout towards key resistance levels.

Trading Strategy:

Buy Zone:

Aggressive Entry: $0.7050 - $0.7100 (if momentum remains strong)

Safer Entry: Wait for a retest around $0.6900 - $0.7000

Targets:

1. First Target: $0.7500 (short-term resistance)

2. Second Target: $0.8000 (major breakout level)

3. Extended Target: $0.8500+ (if buying pressure continues)

Stop Loss:

Conservative Stop Loss: $0.6800 (below key support)

Riskier Stop Loss: $0.6600 (in case of volatility)

Conclusion:

The liquidation event signals a potential bullish reversal. If buyers maintain control, $NIL could test new highs. However, if the price fails to hold above support levels, a deeper retracement is possible. Watch price action closely before entering trades.

#NIL #BinanceAlphaAlert