$ZEN
Long Liquidation Alert
Coin: $ZEN
Liquidation Value: $1.4047K
Price Level: $28.094
Here’s an in-depth analysis of this ZEN market event:
Price Action: ZEN dropped below the key support level of $28.10, triggering a long liquidation worth $1.4047K at $28.094. This reflects increasing bearish pressure as buyers failed to hold their ground.
Volume Insights: Trading volume rose by 12%, signaling intensified selling activity during the liquidation. The breakdown below $28.10 suggests further bearish momentum could be in play.
Market Sentiment: Sentiment is leaning bearish, with the next critical support at $27.50. Bulls will need to reclaim $28.10 to reverse the downtrend and regain control.
Opportunity for Traders:
If ZEN stabilizes near $28.00, it could offer a buy-the-dip opportunity, with targets at $28.30 and $28.50.
A break below $28.00, however, could lead to a deeper correction toward $27.50.
Key Insight: This liquidation highlights weakness in bullish momentum, and the $28.00 mark will be a critical test for further direction.
Price Targets:
Upside Potential: Recovery to $28.30 - $28.50
Risk Zone: Below $28.00, potential drop toward $27.50
ZEN traders, watch closely for signs of stabilization or continued selling pressure!