$ZEN Short Liquidation Alert
Amount Liquidated: $1,007.8K
Price Level: $28.47
A massive $1M short liquidation has shaken the zen market as prices surge to $28.47.
This event signals a potential turning point, with bears caught off-guard as bullish momentum takes over.
The liquidation highlights intense volatility and could set the stage for an explosive rally.
Key Details:
1. Short Squeeze in Play: The liquidation wipes out significant short positions, indicating heavy resistance was breached.
2. Momentum Shift: The price level of $28.47 is a critical marker—breaking this may open the door to a bullish continuation.
3. Market Sentiment: Short liquidations like this often create panic buying, driving prices higher as traders scramble to cover losses.
Next Move Suggestions:
1. For Long Traders:
Look for a clean breakout above $28.50. A sustained move could push zen toward $30 or beyond.
Place stop-loss orders around $27.50 to protect against a potential pullback.
2. For Short Traders:
Avoid entering shorts unless $ZEN shows clear exhaustion near $28.75-$29.
Reconsider shorting only if the price drops below $27.50 with strong selling pressure.
3. Neutral Approach:
Watch the $28.47 level closely.
A breakout with volume could signal a bullish trend, while failure to hold may lead to a retracement.
Potential downside targets if the price reverses: $27 or lower.
Final Warning:
$ZEN is in a high-volatility zone—quick and decisive market moves are expected.
Stay cautious, adapt to the trend, and trade with a risk management plan in place!