#ETHOnTheRise Ethereum Liquidation Alert: $64.6K Long Position Wiped Out!

Ethereum (ETH) recently experienced a significant liquidation event, with a $64.6K long position wiped out at $3,683.02. This sharp move has left traders questioning whether this is a momentary shakeout or the beginning of a larger market shift.

What Happened?

Over-leveraged traders anticipated ETH breaking above the $3,700 resistance level. However, a sudden rejection at this critical zone triggered cascading liquidations, intensifying market volatility.

Market Breakdown:

Resistance Level: $3,700 remains a key psychological barrier. ETH’s inability to breach this level could strengthen bearish sentiment.

Support Zone: Traders are closely watching $3,600. A break below this level could pave the way for further declines.

Bullish Rebound? If momentum returns swiftly, bulls might seize this opportunity to push ETH higher.

What’s Next?

With ETH at a pivotal point, traders should brace for heightened volatility. Will bulls stage a recovery, or will this event deepen the correction? The next moves will be critical in shaping ETH's near-term trend.

#ETHOnTheRise $ETH

ETH

3,641.24

-1.81%