A $78.5K long position in Ethereum ($ETH ) was liquidated at $3,384.30, highlighting significant market volatility.
Current Price: ETH is trading at $3,391.08, reflecting a decline.
Support Levels: Immediate support is observed around $3,380; a breach could lead to a decline towards $3,300.
Resistance Levels: Resistance is noted at $3,500 and $3,600; surpassing these could indicate a bullish trend.
Market Sentiment: Recent price movements suggest a bearish trend, with $ETH underperforming compared to the global cryptocurrency market.
Next Move: A decisive move above $3,500 may signal a bullish reversal, while failure to maintain support at $3,380 could lead to further declines.
Recommendation: Given the current market dynamics, it's advisable to monitor ETH's price movements closely and consider implementing risk management strategies to navigate potential volatility.
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