$ETH Long Liquidation: $113K Obliterated at $3,360.00!
Ethereum bulls just suffered a heavy blow as a $113,000 long position was liquidated at $3,360.
This liquidation highlights increased selling pressure in the market, leaving ETH’s trajectory at a crucial juncture.
What’s Next for Ethereum?
Bearish Scenario: If $ETH breaks below $3,300, the next key support lies near $3,200.
A breach could trigger a cascade of stop-losses, accelerating the decline.
Bullish Rebound: A strong defense of the $3,350-$3,360 zone could spark a recovery, with ETH potentially aiming for $3,500 as resistance.
Opinion: Traders should tread carefully. Short-term moves are likely volatile, offering opportunities for range-bound trading.
Long-term holders might wait to see if ETH stabilizes above critical levels before considering re-entry.
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