Liquidation Alert.

The market just witnessed a $5.8762K short liquidation for $ENA at a key price of $1.2503.

What does this mean.

When a short liquidation occurs, it means traders betting on the price going down (short sellers) are forced to close their positions as the price rises above their margin limits. This liquidation often sparks further buying pressure in the market, fueling price movements.

Key Levels to Watch for $ENA

Resistance: $1.2791 is now a pivotal level. If the price stays above it, we may see a bullish breakout.

Support: If the price retraces, watch for stability around $1.2500.

What Could Happen Next.

1️⃣ Bullish Scenario: The surge in liquidations could trigger a short squeeze, pushing the price higher as more shorts exit the market.

2️⃣ Bearish Scenario: If bulls fail to maintain momentum, we might see a pullback toward lower support levels.

Market Insight

The liquidation value of $5.8762K signals a significant shakeup among short sellers. As market sentiment shifts, this could mark the beginning of a new trend. Stay sharp and ready to react.

What to Do Now.

Traders should assess the volume and follow the price action closely.

Watch for increased volatility around this level as bulls and bears battle it out!

Pro Tip: Stay disciplined, use stop losses, and don’t let emotions drive your trades.

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