$ETH Short Squeeze Alert!
A whopping $816K in ETH short positions has just been liquidated at $3,667.80.
This signals a significant move, likely fueled by growing bullish momentum.
Key Observations
1️⃣ Short Liquidation Impact: Such large liquidations often push prices higher, as shorts cover their positions.
2️⃣ Volume Surge: Increased trading activity around this level shows strong interest from buyers.
3️⃣ Resistance Zone: ETH is approaching a critical resistance at $3,700. A breakout here could lead to another explosive rally.
What’s Next?
• Bullish Scenario: If ETH breaks and holds above $3,700, the next target could be around $3,850–$3,900. Watch for sustained buying pressure.
• Bearish Risk: A rejection at this resistance might lead to a pullback toward $3,500, offering potential re-entry opportunities.
Action Tip:
Keep an eye on volume and RSI indicators to confirm strength or overbought conditions.
Short-term traders can look for breakout trades, while long-term holders might consider scaling in during dips.
$ETH is heating up—are you ready for the next wave?
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