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$ENA Updated Trade: ENAUSDT Perpetual: Leveraged Entry Long @0.2111 TP@1888

Disaster struck the Hyperliquid platform when a massive $340 million ETH long position was liquidated, sending its native cryptocurrency, HYPE, crashing. The huge liquidation triggered a wave of investor withdrawals and a sharp drop in AUM (assets under management). Consequently, Hyperliquid recorded a net outflow of $166 million on March 12, marking the second-largest single-day withdrawal in its history. Adding to the pain, the platform’s HLP Vault suffered a $4 million loss, intensifying selling pressure on HYPE, which plummeted by 6.71% to $12.50 . A high-leverage trader had initially built up a long position of 175,000 ETH, valued at approximately $340 million. The trader reportedly secured a floating profit of $8 million, closing 15,000 ETH before transferring 17.09 million USDC in margin back to their address. However, after the trader pulled out the margin, the remaining 160,000 ETH position was liquidated due to an insufficient margin ratio. The liquidation forced Hyperliquid’s HLP Vault to assume the position at $1,915 per ETH. To minimize market impact and manage associated risks, the platform has begun unwinding the position gradually. This incident significantly disrupted market stability and led to a surge in withdrawals from HLP Vault depositors, sparking concerns about liquidity risks. Related: Bitcoin, AI, and HyperLiquid: What Web3 Accelerator Co-Founders Are Holding The liquidation event resulted in a $4 million loss for Hyperliquid’s HLP Vault. While the platform assured users that this was not due to a security vulnerability or exploit, the large-scale withdrawals show weakened investor confidence. Hyperliquid claimed that the liquidation stemmed from the trader withdrawing margin while holding unrealized profits, which led to a lowered margin ratio and subsequent forced liquidation. Despite the recent setback, Hyperliquid maintains a historical profit of approximately $60 million. However, investors remain wary of further instability, given the platform’s susceptibility to large-scale liquidations and market volatility. Following the sharp decline in HYPE’s price, some analysts see this as an opportunity for accumulation. Market analysts Johny argue that the token has now entered a strong support zone, which could provide a favorable entry point for long-term investors. Related: Crypto Market Dip Creates Value Plays in SUI ENA, HYPE & SOL He further states that the dramatic price drop has driven short-term traders out of the market, potentially stabilizing the token. While sentiment remains divided, many believe that HYPE could recover if market conditions improve and the platform successfully manages liquidation risks. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

$ENA – Falling Wedge Spotted! 🚨 #ENA is currently trading inside a falling wedge pattern on the 30-minute timeframe! 📉 This is a bullish reversal setup, which means we could be gearing up for a breakout! 🚀 🔹 Key Levels to Watch: ✅ Breakout Above $0.38-$0.39 - This could trigger a strong rally! 📈 ❌ Failure to Break Resistance - More consolidation inside the wedge. A breakout with volume confirmation could lead to a sharp move upward !!

📊 ENA/USDT Technical Analysis (15m Chart) ⚡ 💰 Price Overview: Current Price: $0.3705 24h High: $0.3953 24h Low: $0.3554 24h Change: -4.95% 📈 Key Levels: Support: $0.3634 - $0.3554 Resistance: $0.3758 - $0.3953 📉 Trading Strategy: 🟢 Buy Zone: $0.3634 - $0.3554 (if price stabilizes). 🔴 Stop-Loss: Below $0.3540. 🟢 Take Profit Targets: TP1: $0.3758 TP2: $0.3900 TP3: $0.3953 📊 ENA is in a short-term downtrend but showing signs of recovery near support. A breakout above $0.3758 could trigger further upside, while losing $0.3554 may bring more downside. Watch for volume confirmation before entering! 🚀 $ENA

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