$ETH Long Liquidation: $6.0259K at $3850.44

This pullback on $ETH feels healthy — after a strong rally, the market needed to cool off, shake out over-leveraged longs, and retest solid demand zones. The $6K long liquidation around $3850 shows that traders got too confident chasing higher levels, giving the market room to reset and find true support before the next move.

I’m watching the $3820 – $3860 zone closely. This region has acted as previous support during earlier consolidations and aligns with the 61.8% Fibonacci retracement from the last major swing. It’s also a strong reaction area, where buyers have historically stepped in to defend aggressively.

Trade Setup:

Entry Zone: $3820 – $3860

Target 1: $3920

Target 2: $3985

Stop Loss: $3790

If this zone holds, it could mark the base for a new leg upward. I’m watching how buyers respond here — they’re quietly rebuilding momentum, and if volume picks up again, $ETH

could reclaim higher levels faster than most expect.