$ENA The recent price action in Ethena highlights how key liquidity pools continue to dictate short-term direction. The clearance of approximately $18.5K in short positions at the $0.16872 level demonstrates a classic upside liquidity sweep. When over-leveraged shorts get caught off-guard, forced buy-backs naturally accelerate upward momentum, expanding the current squeeze.
From a structural standpoint, breaking through this resistance opens up clear operational targets. Buyers will likely monitor follow-through price action toward the $0.17041 and $0.17209 zones, with an extended expansion level sitting near $0.17546 if volume remains elevated.
However, trading liquidity sweeps requires discipline rather than chasing high volatility. The immediate priority is observing how price reacts around this newly reclaimed level. A clean hold above $0.16872 would signal genuine buying demand and consolidation before higher continuation. Conversely, failing to retain this support could indicate a temporary fake-out, pulling price back into the previous range.
Managing risk remains crucial here. Avoid entering impulsively right after a liquidation event. Let the market establish clear acceptance above support, track order flow dynamics, and ensure clear stop-loss parameters before positioning for the next leg up.$MOVR
$TRUMP
From a structural standpoint, breaking through this resistance opens up clear operational targets. Buyers will likely monitor follow-through price action toward the $0.17041 and $0.17209 zones, with an extended expansion level sitting near $0.17546 if volume remains elevated.
However, trading liquidity sweeps requires discipline rather than chasing high volatility. The immediate priority is observing how price reacts around this newly reclaimed level. A clean hold above $0.16872 would signal genuine buying demand and consolidation before higher continuation. Conversely, failing to retain this support could indicate a temporary fake-out, pulling price back into the previous range.
Managing risk remains crucial here. Avoid entering impulsively right after a liquidation event. Let the market establish clear acceptance above support, track order flow dynamics, and ensure clear stop-loss parameters before positioning for the next leg up.$MOVR
$TRUMP
