🔥 $ZEN Long Liquidation Alert – Bears Taking the Lead? 🔥
A $8.03K long liquidation just took place at $27.461, showing that bulls might be losing steam. With long positions being wiped out, $ZEN could be heading lower. Could we see a dip or is it time for a bounce? Let’s dive into the details!
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What’s Next for $ZEN?
Long liquidations usually lead to downward pressure as market participants exit their positions. This could push $ZEN lower in the short term. However, if key support levels hold, a reversal or buying opportunity may emerge. Keep a close eye on these levels!
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Suggested Trade Setup (For Educational Purposes Only)
🔷 Buy Zone:
If the price stabilizes and shows signs of support, consider entering between $26.50 - $27.00 for a potential bounce.
🔷 Targets:
Target 1: $28.00 (near-term resistance).
Target 2: $29.50 (strong resistance zone).
Target 3: $31.00 (extended target if the rally continues).
🔷 Stop Loss:
Set your stop-loss below $25.50 to manage risk in case the downtrend continues.
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Why This Matters?
Long liquidations can create a temporary downtrend, but they can also offer buying opportunities if the market finds support. If ZEN holds its ground at key levels, it could set up for a strong reversal.
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⚠️ Risk Management Reminder:
Crypto markets can be volatile. Always use stop-loss orders and trade with caution. Never invest more than you can afford to lose.
Will you jump on ZEN for a potential bounce, or wait for clearer signals? Let’s make the right move! 🚀
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