ETH Nightmare: 380 Million Liquidation Reveals the Life-and-Death Game of the Major Players
Last night, ETH staged a 'Lightning War' market: institutional large orders surged to $2878, causing a short squeeze of $120 million;
However, after three attempts to breach $2870 failed, the major players took advantage of Grayscale's chain sale of 50,000 ETH and the ETF delay's negative impact to counterattack against the bulls.
The technical indicators showed a triple top + MACD dead cross confirmation, causing the psychological defense line at $2800 to collapse instantly, dropping to a low of $2742, with a liquidation of $380 million in 24 hours.
The current life-and-death line focuses on $2740:
If it breaks down with volume, it will directly test the ascending trend line at $2680;
If the rebound at $2766 fails, it may trigger a new round of liquidation.
The life-and-death game in the cryptocurrency circle: either witness the 'Evening Star' open the path to a crash, or wait for a miraculous breakthrough at $2878. This night is a carnival for capital but a meat grinder for retail investors!
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