Ethereum Name Service ($ENS ) Short Liquidation Alert
🚨 Short Squeeze in Action! 🚨
A short position worth $5.5247K was liquidated at $35.968, hinting at potential bullish momentum ahead. Here’s a breakdown of what might happen next and how you can plan your trade.
---
Market Insight
The liquidation indicates upward pressure as short traders exit their positions. This could trigger more buying interest, leading to a potential price rally.
---
Key Trading Levels
Buy Zone
$35.50 - $36.00
Look for a retracement into this zone before entering a long position.
Target Levels
1. $37.50 – First target as this is a critical resistance level.
2. $40.00 – Second target if momentum continues strongly.
Stop Loss
$34.80
Place your stop below recent support to reduce risk while giving the trade room to move.
---
What to Watch Next
1. Volume Surge: Check for high buying volume around the Buy Zone. Strong volume confirms bullish momentum.
2. Reaction at $37.50: If $ENS breaks this resistance cleanly, it’s likely to move toward $40.
3. Market Sentiment: Watch Bitcoin and Ethereum closely. Positive sentiment in the broader crypto market often supports $ENS price action.
---
Pro Tip
Stay disciplined. Don’t rush into trades without proper confirmation. If the price doesn’t retrace to your Buy Zone, wait for clear signals near $37.50 before considering any action.
Disclaimer: This is not financial advice. Always do your own research before trading and use risk management to protect your capital.
#BURNGMT #BinanceMEOpening #MarketCorrection #MicroStrategyAcquiresBTC #BinanceHODLerMOVE
