$ETH Short Liquidated – What's Next?
A massive $66.3K short position was liquidated at $3502.48, signaling significant momentum in Ethereum's price action. The market seems ready to move, and here's everything you need to know to capitalize on the opportunity.
Current Situation
Price Level: $3502.48
Sentiment: Bullish (shorts are getting squeezed, indicating upward pressure)
Market Activity: High volatility with strong buying pressure.
What’s Next?
Buy Zone:
Look to buy $ETH if the price retraces to $3400–$3450. This range offers a safer entry point as it may act as a support level.
Target Levels:
First Target (Short-Term): $3600
Second Target (Mid-Term): $3750
Third Target (Long-Term): $4000
Stop Loss:
To manage risk, set your stop loss at $3350. This ensures minimal loss if the market unexpectedly turns bearish.
Why This Setup Works?
1. Liquidation Impact: Large liquidations often fuel momentum in the opposite direction, meaning ETH could see further upward movement.
2. Strong Support: The $3400–$3450 zone has historically acted as a demand zone, making it a good buying area.
3. Bullish Sentiment: Shorts are being squeezed, showing that buyers are in control.
Stay sharp and trade wisely. $ETH could be gearing up for a thrilling ride!