Ethereum ($ETH ) continues to show strong growth, liquidating a short position worth $168,000 at a level of $3,544.51.
📊 What happened?
Unexpected surge: The price of ETH skyrocketed, leading to the liquidation of large short positions.
Short squeeze: Liquidation at this level intensified the upward momentum, pushing the price even higher.
📈 Market impact:
Bullish trend is strengthening: Liquidations of large positions can accelerate further growth of ETH.
Change of sentiment: Liquidations of large amounts often signal the beginning of a bullish trend, as the market gains additional momentum.
🔮 What's next?
ETH may continue to rise, testing resistance levels around $3,550 and above. Traders should watch for possible corrections and strong support levels. 🚀