$ENS A large long liquidation of $39.341K occurred at a price of $33.23 for the Ethereum Name Service token. This means that traders who had bought ENS at higher prices were forced to close their positions, leading to a sharp drop in its price.
What’s Next for $ENS.
After a significant liquidation event, the market often experiences increased volatility. This could either lead to a price correction or a bounce back, depending on the next key support and resistance levels.
Buy Zone for $ENS.
Look for buying opportunities around the support zone at $30.00 - $32.00. This range is crucial, as it represents the previous price levels where buyers may step in. If the price holds here, it could indicate a potential bounce or reversal.
Target Levels.
Once $ENS starts to show strength from the support zone, the next target could be around $36.00 - $38.00. If momentum continues, $40.00 might be a key resistance level to watch.
Stop Loss Levels.
If you decide to enter the market, it’s important to manage your risk. Place a stop-loss just below the $29.00 - $30.00 range to protect against any further downside. This will help prevent bigger losses if the price breaks below support.
Summary.
Buy Zone: $30.00 - $32.00
Target Levels: $36.00 - $38.00, $40.00 possible resistance.
Stop Loss: $29.00 - $30.00
Remember, always trade with caution and only invest what you can afford to lose. Keep an eye on the overall market sentiment, as it can heavily influence price movement.
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