$ETH Surges as Shorts Get Wrecked: $7.37K Liquidated at $2615.24
The bears just took a heavy blow as $7,375.30 worth of $ETH shorts were liquidated at the $2615.24 level, sparking renewed bullish momentum. This aggressive liquidation signals potential for further upside if bulls hold the line.
Analysis and Trading Plan
Buy Zone:
$2580 – $2630
This zone is now a key demand area. The liquidation at $2615.24 suggests heavy resistance was broken. If ETH dips back into this range, it's a prime long entry with reduced risk.
Short-Term Target:
$2725 – $2760
With liquidity wiped from the downside, ETH could surge to retest its recent swing highs. Momentum will likely push the price toward this zone as traders chase the breakout.
Mid-Term Target:
$2825
This psychological resistance level lines up with key Fibonacci extensions and historical rejection. If ETH can flip $2760 into support, $2825 becomes the next battlefield.
Stop Loss:
$2540
Place your stop just below the lower bound of the buy zone. If ETH falls beneath this level, it would invalidate the bullish setup and signal potential for deeper downside.
Conclusion:
Ethereum is showing strength after liquidating short positions. The $2615 level now flips into a bullish pivot. As long as price holds above $2580, bulls remain in control. Watch for a strong continuation if $ETH breaks $2675 with volume.
