$ETH Short Liquidation: $3.153K at $3941.21

The recent pullback on Ethereum isn’t a sign of weakness — it’s a healthy reset. After days of steady climb, the market needed to shake out late shorts, and that’s exactly what happened at $3941.21, where a $3.15K short liquidation hit the charts.

I’m watching this zone closely because this is where buyers have consistently stepped in before. It’s aligned with a previous reaction level and the 38.2% Fibonacci retracement from the recent swing low — a textbook spot where smart money looks for re-entry.

If this level holds, I expect ETH to build momentum for another leg up. The structure still looks bullish; they’re just clearing liquidity and gathering strength for the next move.

🎯 Trade Setup:

Entry Zone: $3890 – $3960

Target 1: $4050

Target 2: $4170

Stop Loss: Below $3830

I’m not chasing — just waiting for confirmation. If volume rises on any bounce from this area, that could mark the start of a clean breakout phase.