ENA Long Liquidation: $7.4813K at $1.0084
A significant long liquidation for $ENA took place at $1.0084, indicating a shift in market direction and potential for further downside.
Entry: $1.0084
The liquidation point at $1.0084 is a critical level for watching market behavior. Consider entering short positions at this level, where the price may face continued pressure.
Target: $0.95
The next support level for $ENA is around $0.95, providing a solid target for potential downside. This area offers a 5% drop from the entry point.
Stop Loss: $1.05
Set a stop loss at $1.05 to manage risk in case of a market reversal. This level allows for protection if $ENA unexpectedly rebounds.
Analysis:
The $7.4813K long liquidation at $1.0084 has created a potential downside for $ENA. Watch for a move towards $0.95 while managing risk with a stop loss at $1.05.