Massive Liquidation Alert: $ZEN Hits $29.79
A staggering $149K in short positions was just liquidated at $29.79, creating shockwaves in the zen market.
The price level is now under intense scrutiny as bulls and bears battle for control in this high-stakes environment.
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Key Details:
Liquidation Amount: $149K—indicative of heavy leverage in play.
Price Level: $29.79—a critical resistance turned key pivot point.
Market Sentiment: Momentum may favor bulls with shorts forced out, but selling pressure near $30 could still cause reversals.
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What Happens Next?
1. Bullish Continuation:
If $ZEN holds above $30, expect a strong rally toward $32-$33, as forced liquidations could lead to a short squeeze.
2. Bearish Rejection:
Failure to break above $30 could trigger renewed selling pressure, pulling the price back to $28.50 or lower.
3. Neutral Consolidation:
zen could hover between $29.50 and $30 as traders digest this major liquidation event, awaiting a clear breakout.
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Suggested Moves:
1. For Bulls:
Look for a decisive breakout above $30 before entering long positions.
Place stop-losses below $29.50 to manage risk.
Target $32-$33 for potential profit-taking.
2. For Bears:
Wait for rejection at $30 or a breakdown below $29.50 to open short positions.
Target $28.50 or lower, but watch for potential reversals.
3. For Neutral Traders:
Monitor price action around $29.79-$30 for clear directional signals.
Be ready for quick scalps in either direction during this volatile phase.
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The $ZEN market is heating up. Will bulls seize the moment, or will bears drag it down?
Stay alert and adapt quickly—this is a critical juncture.