$ENS SHORT LIQUIDATION Alert.

Massive short liquidation hit the $ENS market with $5.87K liquidated at $35.60.

What does this mean.

Short liquidations occur when traders betting against the price (short sellers) are forced to buy back their positions as the price rises beyond a certain threshold. This triggers a chain reaction, often causing rapid price spikes.

$5.87K worth of shorts getting squeezed at $35.573 indicates significant market pressure and could signal a potential rally.

Key Takeaways:

1. Short squeeze action: Liquidation at this level may attract more buying, leading to upward momentum.

2. Potential Targets: If the buying pressure continues, watch for $40+ levels as potential resistance, or further squeezes.

3. Stop-Loss Alert: For anyone entering a long position post-liquidation, ensure your stop-loss is set around $33 to mitigate risk of any sharp retracement.

Market Watch: The market is reacting, and now is the time to keep an eye on further liquidations and possible price action shifts. It could be a highly volatile period for $ENS

This provides the thrilling element with detailed analysis of the short liquidation event, as well as practical advice for traders.

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