A significant $2.4875K short liquidation just occurred at $23.623 for $ZEN , causing a massive market shift.
This liquidation could be the spark for a sharp upward move as shorts are forced to cover, pushing the price higher.
Important Details:
Liquidation Amount: $2.4875K
Price of Liquidation: $23.623
Market Impact: With this large liquidation, a short squeeze is likely to follow, potentially sending $ZEN on a strong rally as more shorts cover their positions.
Next Move:
Keep an eye on the $24.50 to $25.00 range for possible resistance.
If $ZEN breaks through these levels, expect a continuation of the rally.
Watch for signs of consolidation around these levels.
If the price begins to stall, a pullback could be in play before the next leg up.
Stop-Loss Strategy:
Place a stop-loss just below $23.00 to protect against any sharp downside moves.
This gives enough room for potential upside while keeping risk in check.
Market conditions can change fast with liquidations of this size, so stay ready to adjust your position as the price action develops.