Massive $ENA Short Liquidation: What’s Next for Traders?
A staggering $6,549.70 worth of short positions in ENA was liquidated at the $1.1928 price level.
This significant event signals a surge in buying pressure and could hint at a potential breakout.
Key Takeaways:
Liquidation Amount: $6,549.70 – a clear sign of short-sellers caught off guard.
Critical Level: $1.1928 is now a key resistance turned support.
Market Sentiment: Bulls seem to have the upper hand, driving the price upward.
Next Move:
1. Watch for consolidation above $1.1928. If $ENA sustains this level, a rally toward $1.25 or beyond may unfold.
2. Monitor trading volume. Increasing volume could confirm bullish momentum.
Stop Loss Strategy:
For long positions, place a stop-loss below $1.17 to manage risk in case of a pullback.
This market move has shaken things up—stay sharp, as $ENA could be on the verge of something big.