Ethereum just saw a long liquidation of $2.2444M at $2715.78, signaling a shakeout in the market. This could be the start of a major move. Here’s the full breakdown:
Current Market Outlook
$ETH recently tested $2715.78 and saw a long liquidation, indicating leveraged traders getting wiped out.
If buyers regain momentum, we could see a recovery. But if weakness continues, deeper corrections are possible.
Bullish Breakout Above: $2785 (Could trigger a strong rally)
Bearish Breakdown Below: $2620 (Could open doors for $2550)
$ETH is at a critical juncture. Stay sharp and manage risk wisely, as liquidations often lead to high volatility and sharp reversals. Keep an eye on volume and momentum to confirm the next move.
$ETH is currently forming a bullish triangle pattern in the 1-hour time frame, which is indicating positive sentiment in the market. There is also some good news for Ethereum that further highlights its potential growth. If Ethereum breaches the upper trendline of this pattern, it will be a significant bullish signal. In such a case, an entry can be considered after the condition of retest, as a successful retest provides confirmation that the breakout is sustainable. This situation can become an important decision-making point for any investment in Ethereum. POSITION MENTION THE CHART 👇 (E) ENTER (S) STOP LOSS (T) TAKE PROFIT
$YFI /USDT - Recovery in Progress, Eyes on Key Resistance! 🚀
📊 Current Price: $5,841 (-2.29%)
🔥 Key Levels:
Support: $5,640 – Holding strong, preventing further downside.
Resistance: $5,999 – A breakout above this could trigger a bullish push!
📈 Long Setup (Bullish Trade):
Entry: $5,750 - $5,820 (On slight retracement)
Take Profit Targets:
TP1: $5,950
TP2: $6,100
TP3: $6,250 🚀
Stop Loss: Below $5,640
📉 Short Setup (Bearish Trade):
Entry: $5,900 - $6,000 (If rejection at resistance)
Take Profit Targets:
TP1: $5,750
TP2: $5,650
TP3: $5,500
Stop Loss: Above $6,050
📈 Market Insight: YFI is attempting a recovery after recent dips, testing crucial resistance at $5,999. A break above this zone could signal further bullish momentum, while failure to break may lead to a pullback for a retest of support.
💡 Pro Tip: Monitor trading volume near resistance—a strong buy surge could fuel a sharp breakout rally! 🔥📊
Binance Square is pleased to introduce the launch of a new campaign on the Task Center on the Binance App. Users can complete simple tasks daily to unlock a share of $5,000 in USDC token rewards and earn Binance Points.
Activity Period: 2024-12-19 06:00 (UTC) to 2024-12-25 06:00 (UTC)
All eligible users can complete each of the following tasks once every day during the Activity Period.
Tasks: 1. Check in to Binance Square daily.* 2. Create a post with at least 100 characters using the limited-time hashtag (e.g., $BTC) OR selected trading pair. 3. For new Square users who have never posted on Square before the Activity Period, their first post will count as double (i.e., 2 participations).
Notes: Limited-time hashtag and selected trading pair will be refreshed daily at 06:00 (UTC) and will run for 24 hours.
Completion of check-in AND creation of post (either with the hashtag OR the trading pair) counts as 1 participation. Users will need to complete both tasks within the 24-hour window for it to be counted as a valid entry.
Reward per Eligible Participant = Number of Tasks Completed / Total Number of Tasks Completed by All Participants * Reward Pool, capped at $10 per participant.
Terms & Conditions This Activity may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the Activity Period in order for their entries to be counted as valid. Users will receive a share of the reward pool and Binance Points upon completion of tasks and will be able to redeem their voucher and Points via Profile > Rewards Hub. Token vouchers will be distributed within 21 working days after the campaign ends and expire 14 days after distribution. Points will expire on the last day of the same month a year later on a first-in, first-out basis. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards.