$ZEN Long Liquidation Alert.

Liquidation Event:

A massive $2.4687K in long positions for ZEN was liquidated at $23.66. This is a significant event in the market, marking a potential turning point for the price action. Let’s break it down:

What's Happening.

The ZEN token witnessed a huge liquidation of long positions, sending shockwaves through the market.

At $23.511, traders who were holding onto their long positions were caught off guard as the price dipped, triggering automatic sell-offs.

$2.4687K worth of long positions were wiped out in this volatile move, suggesting that the market was heavily leveraged.

What This Means for the Market.

Bearish Sentiment: The liquidation event could suggest that some traders are taking a step back, and we might see further downward pressure if the trend continues.

Key Levels to Watch: Traders will now be looking for support levels to see if the price can hold steady or if the downward momentum will continue.

For Traders:

If you’re holding $ZEN , be cautious and watch for potential resistance around $23.511.

Monitor key support levels for potential bounce opportunities. A break below these levels might lead to more liquidations and a deeper retracement.

What to Expect Next.

The next few hours could be crucial in determining the future direction of $ZEN . A failure to reclaim higher levels could signal more liquidations and downward momentum.

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