Massive $ETH Long Liquidation Alert.

Ethereum traders just experienced a major shake-up in the market. A staggering $7.004K worth of ETH long positions were liquidated at a key price level of $3520.0

This liquidation event highlights the volatility and precision of the crypto market. Here's what went down:

Key Details.

Asset: Ethereum ($ETH)

Liquidation Amount: $7,004K

Liquidation Price: $3514.28

Market Impact: The event reflects a significant sell-off pressure, forcing leveraged long positions to close at this price level.

Why Did It Happen.

1. Strong Resistance at $3514.28: The price acted as a critical resistance level, triggering automated sell orders and liquidations.

2. Market Volatility: Rapid price fluctuations can create liquidation cascades, especially when leverage is high.

3. Trader Sentiment: Bearish pressure led to a domino effect, shaking out over-leveraged positions.

What's Next for $ETH

With this liquidation, Ethereum might face:

1. Short-Term Bearish Momentum: The selling pressure could push ETH further downward.

2. Support Levels to Watch: Key levels at $3400 and $3250 might act as strong support zones.

3. Potential Rebound: If bullish traders step in, ETH could attempt to reclaim the $3514 level.

Pro Tip: In high-leverage trading, always set a stop-loss to protect your funds from unexpected market moves. Stay vigilant and keep an eye on $ETH price action for the next big move.

Will this liquidation mark the start of a deeper correction, or will Ethereum bulls regain control. The battle continues.

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