$ZEN Long Liquidation Alert
A significant long liquidation worth $10.505K occurred at $31.892, signaling high volatility in the market.
Here's a detailed breakdown to guide your next move.
Current Situation Analysis
Price Action: The liquidation indicates selling pressure, potentially driving the price lower.
Market Sentiment: Traders may turn cautious, creating opportunities for calculated entries.
Key Levels to Watch: The price may stabilize or move toward critical support zones before rebounding.
Trading Plan: Buy Zone, Target, and Stop Loss
Buy Zone
Look to buy in the range of $29.50 to $30.20.
This zone aligns with potential support where buyers may step in.
Targets
1. Target 1: $32.50 (Short-term recovery target).
2. Target 2: $34.00 (Mid-range breakout target).
3. Target 3: $36.00 (Optimistic target if momentum builds).
Stop Loss
Set your stop loss at $28.80 to minimize risk if the price breaks below support.
Risk Management
1. Position Size: Invest only 1-2% of your total capital to limit exposure.
2. Monitor Volume: Ensure there’s increasing buying activity in the buy zone before entering.
3. Avoid Chasing: Stick to your plan and don’t enter if the price moves outside the buy zone.
Additional Tips
Patience is Key: Let the market come to your buy zone instead of chasing price action.
Stay Updated: Keep track of broader market conditions and sentiment for $ZEN .
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