$ENA Long Liquidation Alert!
Liquidation Amount: $9,762.10
Liquidation Price: $1.2301
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Key Details:
1. A $9.76K long position was liquidated at $1.2301, marking a significant event that underscores heavy selling pressure.
2. The $1.23 level now becomes critical, as it may either act as a resistance or a potential bounce zone depending on the market's next move.
3. This large liquidation highlights increased volatility and could spark further cascading liquidations if the $1.23 level fails.
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Next Move:
For Bulls:
1. Reentry Opportunity: Monitor the $1.22-$1.23 range for signs of accumulation and recovery.$ENA
2. Stop Loss: Place a stop below $1.20 to limit exposure if selling pressure persists.
3. Upside Targets:
Immediate recovery to $1.25-$1.26.
Extended rally to $1.30 if momentum builds.
For Bears:
1. Short Entry: Consider entering shorts if $1.22 breaks decisively, confirming a bearish continuation.
2. Stop Loss: Place a stop above $1.24 to avoid being trapped in a rebound.
3. Targets:
Immediate downside to $1.20.
Strong support at $1.15 if selling accelerates.
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Market Outlook:
The $1.23 level is pivotal. A recovery above this point could signal a reversal, while sustained selling below it may lead to deeper corrections.
Watch for increased trading volume near this level to gauge market sentiment and identify potential reversals or breakdowns.$ENA