$PROM has just seen a long liquidation at $1.87153, indicating that overleveraged long positions have been forced out of the market. This type of liquidity sweep often clears weak hands and can set the stage for a relief bounce if buyers defend the current support zone. I'm waiting for price to stabilize and reclaim short-term structure before considering an entry.
The technical picture suggests that holding above the recent demand area could attract fresh buying momentum. If PROM starts printing higher lows with increasing volume, a move toward the next resistance levels becomes more likely. A break below support would invalidate the setup, so patience is key.
EP: $1.8550 – $1.8750
TP: $1.9300 | $2.0000 | $2.0800
SL: $1.8100
This setup is based on the latest liquidation event, current price structure, and nearby support and resistance levels. Wait for confirmation before entering any trade and always use proper risk management.
