$ETH $2,106.60 in shorts just got LIQUIDATED at a price of $3,438.00 The market's bulls have flexed their muscles, sending bearish traders into a spiral
Key Details
Liquidation Value $2.1K, signaling a significant position caught in the squeeze. Liquidation Price $3,442.15, which now stands as a critical level of support
Market Reaction With shorts cleared bullish sentiment could accelerate paving the way for a potential breakout
What This Means for $ETH
Bullish Momentum: This liquidation reflects strong buying pressure at higher levels, pushing to reclaim dominance.
Volatility Ahead: Expect rapid movements as bulls try to capitalize on this momentum while bears reassess their positions.
Key Levels to Watch: Resistance at $3,500 and potential support near $3,400 in the short term
Trading Insights
Short-Term Strategy Traders should watch for bullish follow-through as liquidations often lead to cascading price impacts.
Key Indicators: Monitor RSI, volume surges, and open interest for signals of continued bullish strength
Risk Management Stay cautious with leverage as the market could remain volatile.