Massive Short Liquidation on $ZEN .

Amount Liquidated: $5.03K

Price Trigger: $28.96

The market just witnessed a thrilling event as shorts on $ZEN faced a $5.03K liquidation at $29.075. This sudden liquidation indicates a bullish momentum, as the price broke a key level, catching short-sellers off guard.

What Does This Mean.

1. Short Liquidation: When the price rises above the liquidation threshold, traders with leveraged short positions are forced to close, amplifying the upward movement.

2. Bullish Signal: Liquidations like these often indicate that buying pressure is strong, pushing the price higher and forcing shorts to exit.

Key Levels to Watch.

Support: $28.50 – If the price retraces, this level might act as strong support.

Resistance: $30.50 – A breakout above this could trigger further upward momentum.

Trading Strategy.

For Longs:

Buy Zone: $28.80–$29.10

Targets: $30.00, $30.50

Stop-Loss: Below $28.40

For Shorts:

Consider entering if price shows rejection around $30.50.

Stop-Loss: Above $31.00

This event is a classic reminder of how volatile markets can be. Stay cautious, and always trade with proper risk management.

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