🚨 $ETH Market Update: Key Liquidation Event
Key Event:
Liquidation: A long position worth $66,400 was liquidated at $3,230.14.Asset: $ETH faced heightened selling pressure, triggering cascading liquidations.
Entry Point:
Current price action near $3,230 indicates a pivotal level.Suggested entry for $ETH: $3,240 (on confirmation of reversal).
Target:
First Target: $3,300 (short-term rebound).Second Target: $3,380 (medium-term resistance zone).
Stop Loss:
Position stop loss at $3,180 to protect against further downside risk.
Analysis:
The sharp liquidation reflects intense market volatility in $ETH .
Critical support lies around $3,200; breaking below could trigger further sell-offs.
Resistance at $3,300 needs significant volume for an upward breakout.
Caution: Trade responsibly and monitor market developments closely.