🚨 Ethereum Liquidation Alert: $2B at Risk Near $4.2K! 📉
Yo, ETH traders! 👀 Massive action brewing around $4,200. Over $2B in long positions could get wiped out if Ethereum dips below this key support. Here's the breakdown:
🔍 What's Happening?
ETH trading at ~$4,280, down 6% in 24 hours.
$4,200 is a critical level with $2B in longs at risk of liquidation (Cipher X data).
Exchanges like Binance ($52M), OKX ($21M), and Bybit ($23M) are loaded with leverage. A break below could trigger a cascade of forced selling. 😱
📈 Technical Vibes
Weekly close above $4,000 keeps the uptrend alive (shoutout to Lennaert Snyder).
Support zone: $4,190–$4,240. Hold this, and we might see a bounce.
Resistance at $4,550–$4,571. A clean break could push ETH toward $4,780 or even $5,000! 🚀
⚠️ Shorts Piling In
Institutional shorts on ETH via CME futures hit an all-time high (per Quinten).
Meanwhile, ETFs are quietly stacking ETH on the spot market. A short squeeze could send prices flying if bulls take control. 💥
📅 Big Events This Week
FOMC minutes (Wed), U.S. jobless claims (Thu), and Powell’s speech (Fri) could shake things up.
Volatility incoming, so strap in! 🛡️
💡 My Take
The $4,200 level is make-or-break. If ETH holds, we could see a short squeeze and a run toward $5K. But if it cracks, brace for a liquidation storm. Stay sharp, manage your risk, and let’s ride this wave! 🌊
