Massive $ETH Short Liquidation at $3,472.44! Bulls Roar Back!
A hefty $5,712.2 worth of ETH short positions were liquidated at $3,472.44, signaling a decisive shift in market sentiment.
Bulls are regaining dominance, pushing prices higher and squeezing out short sellers.
Key Details:
Liquidation Amount: $5,712.2
Liquidation Price: $3,472.44
Market Context: The liquidation reflects strong buying pressure, with $ETH bouncing off key support levels.
This could mark the start of a new leg up.
Next Move:
For Bulls (Long Traders): Look for a breakout above $3,500. If confirmed, the next target could be $3,550–$3,600.
Enter on pullbacks to $3,450–$3,470 with rising volume as support.
For Bears (Short Traders): Wait for rejection at $3,500 or $3,550 before considering shorts.
High volatility increases risk for bearish positions.
Suggested Stop-Loss:
For Longs: Protect your position with a stop-loss at $3,440, just below critical support.
For Shorts: Set a stop-loss above $3,520 to minimize losses if bullish momentum strengthens.
$ETH is heating up—momentum is building, and a breakout could spark a rally. Stay sharp and trade with caution!