Major Liquidation Alert!
A massive $201K short position on $ETH was just liquidated at $3444.37! This signals a strong surge by the bulls, forcing sellers to close their positions as Ethereum powers upward.
What Does This Mean?
1. Bullish Momentum: Liquidating such a large short indicates Ethereum’s price is gaining strength, with buyers firmly in control.
2. Key Level: Breaking past $3444 suggests ETH could target higher levels if this momentum continues.
Next Move for $ETH ?
1. Immediate Resistance: ETH might face selling pressure near $3500-$3550. Watch for a breakout above this range to confirm a stronger rally.
2. Support to Hold: On any pullback, $3400 should act as a key support zone. Losing this level could signal weakness.
3. Momentum Outlook: If volume and buying interest stay strong, ETH could aim for $3700 in the coming days.
Opinion:
ETH looks promising, but entering at these levels carries risk due to volatility.
Look for consolidation or retracement before considering a long position.
Stay patient and manage your risk wisely!
What’s your next play on Ethereum?
#MajorUnlocks #BTCKeyZone #NotPriceSurge #BNBChainMeme #GODINDataForAI
