A substantial long position in Ethereum $ETH was liquidated at $3,449.03, indicating potential market volatility.
Support and Resistance Levels:
Support Levels:
$3,430.16
$3,385.86
$3,330.24
Resistance Levels:
$3,530.09
$3,585.71
$3,630.01
These levels suggest that if the price falls below $3,430.16, it may find support around $3,385.86 or $3,330.24.
*Conversely, upward $ETH movements may encounter resistance near $3,530.09, $3,585.71, and $3,630.01.
Recommendation:
Given the recent liquidation and current price action, it's advisable to hold off on new positions until the market shows clearer direction.
Monitor the support and resistance levels closely.
A break below support may indicate further downside, while a move above resistance could signal upward potential.
Always use risk management strategies, such as setting stop-loss orders, to protect your investments.
*Disclaimer:
*This analysis is for informational purposes only and should not be considered financial advice.
Always conduct your own research before making investment decisions.*
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