$ZEN Long Liquidation Alert
A massive $4,489.3 worth of ZEN longs have been liquidated at the critical level of $28.35
The bears have taken control, forcing leveraged traders out of their positions in a sharp move down
Key Details
Asset ZEN
Liquidation Type Long
Liquidation Value $4,489.3
Liquidation Price $28.35
What Does This Mean
A long liquidation happens when the price falls below the threshold where traders betting on an upward move can no longer sustain their positions
This suggests bearish dominance in the market, with increased selling pressure driving prices lower
Market Impact
The $28.35 level may now serve as a key resistance zone, as liquidation-driven sell-offs can create downward momentum.
If this bearish trend continues, traders should watch for further declines toward lower support levels
Advice for Traders
Monitor market sentiment and trading volume closely for signs of recovery or continued selling pressure.
Implement risk management strategies, as volatility is likely to spike in the short term