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$MKR Short Liquidation Alert.
A massive $5.0376K in short liquidations just hit at $1584, indicating a potential short squeeze and bullish momentum. Let's break it down:
Market Analysis & Buy Zone
Current Sentiment: Bullish push due to short liquidations
Buy Zone: $1565 - $1590 (Accumulation zone for potential breakout)
Resistance Levels: $1620, $1650 (Key breakout zones)
Target Levels
Target 1: $1625 (First resistance, potential profit zone)
Target 2: $1680 (Next breakout level)
Target 3: $1750+ (Strong momentum zone if bulls take over)
Stop Loss Strategy
Conservative SL: $1545 (Below key support)
Aggressive SL: $1520 (Wider risk management)
Final Thoughts
The recent liquidation suggests that bears are getting squeezed, which could fuel a rapid move upward. If buying pressure sustains, $MKR might aim for the $1700+ range. However, always manage risk with proper stop-loss placement.
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