Short positions will become the fuel for Ethereum's rise

After breaking through a key resistance level, Ethereum continues to rise in volume.

Due to the strong FUD sentiment surrounding Ethereum over the past few months, many people are shorting Ethereum, and the open interest in Ethereum contracts denominated in the coin is at a historical high.

As Ethereum breaks through the key resistance level, the chain reaction of liquidations from short positions will become the fuel for Ethereum's strong rise, just like what happened in January 2023.