#ETHOnTheRise

huge $67K short position just got liquidated at $3620.35, sparking an explosive shift in the Ethereum market!

The short squeeze has flipped the market sentiment, and traders are now watching closely to see if ETH can continue its rally or if this is just the calm before the storm.

Market Breakdown & Insights

1️⃣ Short Squeeze Unleashed:

The liquidation at $3620.35 shows just how powerful the short squeeze can be.

With shorts getting forced out, Ethereum is likely to see a quick surge if bulls continue to take control.

The next major resistance to watch is $3700. If ETH clears this level, we could be eyeing a retest of $3800 or even $4000.

2️⃣ Bullish Momentum Gaining:

Increased Buying Volume: Following the short liquidation, the buy-side pressure is increasing, and the momentum could continue to build if ETH manages to hold $3620 as support.

Order Book Strengthening: With the liquidation behind us, the order book looks relatively solid above $3620, which could provide strong support for the next leg up.

3️⃣ Whale Activity Behind the Scenes?

Massive short liquidations often hint at whale movements.

Are the whales taking advantage of the squeeze to accumulate more ETH?

If so, expect strong upward moves as they build positions.

Bullish Case: If $3620 holds as support and ETH breaks above $3700, the price could surge toward $3800, and potentially $4000, if the buying momentum continues.

Bearish Reversal: If $ETH fails to hold $3620 and drops below, a pullback to $3550 or $3500 could be in play, with more selling pressure testing the lower levels.

Pro Tip: Watch for confirmation of support at $3620 and any whale-driven buying action.

Short squeezes often lead to volatile moves, so stay ready for quick changes in direction.

$ETH 's next move will depend on whether it holds $3620 as support.

If it does, expect a move toward $3700 and potentially $3800.

However, if it drops below $3620, a pullback to $3550 or $3500 is likely.

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