$ETH is trading inside a large symmetrical triangle on the 3 day timeframe. Price recently tapped the ascending trendline support and has shown a strong bounce, indicating buyers are defending this key zone.
As long as ETH holds above the lower trendline, a move toward the triangle resistance around the $2,300–$2,500 area is possible. A breakout from this pattern could trigger a much larger bullish move, while a breakdown below support would invalidate the bullish outlook and signal further downside.
Liquidations in the crypto market have accelerated as Bitcoin (BTC) fell below $63,000 and Ethereum (ETH) dropped below $1,700.
Over the past hour, positions worth $3.3 million were liquidated, while 116,233 investors liquidated their holdings in the past 24 hours. The total amount of liquidations was announced as $501.82 million.