$ETH A significant short position on Ethereum (ETH) worth $80,040 was liquidated at $2,821 on Bybit. This suggests a strong upward movement in ETH's price, forcing short sellers to exit their positions.
Current Market Overview: As of February 23, 2025, ETH is trading at approximately $2,759.70. The intraday high reached $2,792.69, with a low of $2,661.14.
Trading Strategy:
Buy Zone: Consider entering between $2,400 and $2,800, identified as a key demand area.
Target: Aim for the $3,400 resistance level, which could be reached if ETH breaks above $2,850.
Stop Loss: Set at $2,350 to manage potential downside risks.