$ZEN Long Liquidation: A Dramatic Shakeout at $28.869
A massive $5,490.9 worth of $ZEN longs have been liquidated at $28.869, marking a pivotal moment in the market.
The sell-off highlights growing bearish momentum and sets the stage for heightened volatility.
Key Details:
1. Liquidation Trigger: The long liquidation suggests selling pressure intensified, overwhelming bullish positions at this level.
2. Market Sentiment: With buyers forced out, bearish sentiment may gain traction unless a strong recovery emerges.
Next Move:
Bearish Case: A breakdown below $28.80 could pave the way for a drop toward $28.00, with support likely at $27.50.
Bullish Case: If the price rebounds and reclaims $29.00, it could trigger a recovery toward $30.00.
Stop Loss Guidance:
For Long Positions: Place your stop loss below $28.70 to limit exposure in case of further declines.
For Short Positions: Set your stop loss above $29.20 to protect against a potential reversal.
The market is at a crossroads. Traders must act decisively as $ZEN braces for its next big move.
Stay alert and adapt to the unfolding dynamics.
