$ETH is currently sitting on one of its most critical on-chain support levels 🔥
• The $2.8K zone is a major on-chain support cluster. It aligns with the realized price for both retail holders and large wallets — the same zone that marked cycle bottoms for ETH in previous markets.
• The flow of funds is clear: retail is panic-selling, while whales holding 10,000+ ETH are steadily accumulating. When smart money buys into fear, it usually means the market is entering an asymmetric zone.
• Liquidation data tells the same story. Long liquidations aren’t increasing even as price makes new local lows — meaning forced selling pressure is nearly exhausted. Meanwhile, shorts are piling in aggressively, setting up the conditions for a potential short squeeze.
👉 In short: ETH is sitting on major on-chain support, whales are buying, retail is capitulating, and shorts are crowding the trade.
A single bounce from here could trigger a chain reaction. #ETH🔥🔥🔥🔥🔥🔥
