Major $ETH Short Liquidation Alert.

Ethereum ($ETH) shorts just felt the heat. Over $1.8743K worth of short positions were liquidated at $3,586.78, as the bulls charged forward, breaking key resistance levels.

What does this mean.

Short liquidations happen when traders betting against the market (expecting prices to drop) are forced to close their positions due to rising prices.

This liquidation indicates strong bullish momentum, suggesting that $ETH could continue climbing if the momentum sustains.

Key Takeaways for Traders:

1️⃣ Support Zone: Keep an eye on $3,450–$3,500 as the potential new support range.

2️⃣ Resistance Level: Next significant resistance is around $3,650–$3,700.

3️⃣ Bullish Sentiment: Short liquidations often lead to cascading buy orders, driving the price higher.

Strategy Suggestion:

If you’re bullish, look for a potential breakout above $3,600 with targets at $3,750 and $3,900.

If bearish, monitor for rejection at $3,650 and plan shorts cautiously with a stop-loss above $3,700.

Pro Tip: Volatility is high during such liquidations trade with discipline and always set stop-loss levels.

What are your thoughts on this surge? Is $ETH primed for a moonshot, or will the bears strike back.

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