BREAKING: Massive $EIGEN /USDT Longs Liquidated!
A $3,781.50 long liquidation just hit the books at $1.507 – a sign that big hands were caught off guard! But smart traders know: liquidations create opportunity.
Is this blood on the floor… or a setup for a powerful bounce?
Let’s break it down:
Technical Analysis: $EIGEN /USDT
Zone of Interest (Buy Zone):
> $1.465 – $1.510
This is a high-probability accumulation zone. Price dipped due to liquidation, but support around $1.465 is holding strong.
Entry:
> Anywhere between $1.47 – $1.505 (scale in gradually)
Target 1: $1.575
Target 2: $1.638
Target 3 (Full Rally): $1.715+
Stop-Loss:
> Tight SL: $1.445
Conservative SL: $1.425 (if using lower leverage)
Risk/Reward:
> Around 1:3.5, depending on entry and SL.
Why This Trade?
Long liquidation often creates short-term panic dips – not trend reversals.
Strong historical support around $1.46–$1.48
Bullish Divergence forming on RSI (15m & 1H)
Volume spike after liquidation = whale shakeout?
Pro Tip: Watch for consolidation above $1.50. If price reclaims $1.53+ with volume, bulls may charge toward $1.63+ quickly.
Caution: If BTC breaks down, reconsider entries.