Massive Short Liquidation Hits $ETHFI

$3.1819K Liquidated at $2.256

The cryptocurrency markets never sleep, and today’s action-packed trading session saw a huge short liquidation in $ETHFI, totaling $3.1819K at the key price level of $2.25076.

What Does This Mean.

A short liquidation happens when traders betting on the price going down are forced to exit their positions due to rising prices. This suggests:

1. Strong Buying Pressure: Buyers overwhelmed sellers, pushing the price beyond critical resistance levels.

2. Shift in Sentiment: This liquidation signals a potential uptrend or short-term rally, as bears (sellers) exit and bulls (buyers) take control.

Key Levels to Watch

Support Zone: If $2.25076 holds as support, it could fuel further upside momentum.

Resistance Levels: Watch out for resistance near $2.35 and $2.50 for profit-taking or potential reversals.

What’s Next for $ETHFI

If bullish momentum sustains:

Targets: $2.35, $2.50, and beyond.

Volume Confirmation: Look for higher trading volumes to confirm the rally.

If sellers re-enter:

Pullback Zone: Price could revisit $2.20 or lower for consolidation.

Stop-Loss Suggestion: Place a stop-loss below $2.20 if you’re entering long positions.

This event highlights the unpredictable nature of crypto trading. Stay alert, plan your trades wisely, and let the charts guide you.

Do you think this is the beginning of a massive bull run for $ETHFI or will the bears strike back? Share your thoughts.

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