$ETH A notable event has shaken the Ethereum (ETH) market: an $80,040 short position was liquidated at $2,821 on Bybit. This indicates a sudden upward price movement, catching bearish traders off guard.
Current Market Overview: As of March 1, 2025, Ethereum is trading at approximately $2,240.27. This reflects a decline from its January peak of $3,922, influenced by factors such as market volatility and recent regulatory developments. For instance, despite lagging behind Bitcoin, Ether is projected to potentially reach new highs if current demand-and-supply dynamics hold.
Key Levels to Watch:
Support Zones: The $2,000 level is a critical support area. If ETH fails to maintain this level, it could decline toward the $1,800 range.
Resistance Levels: On the upside, the $2,400 to $2,500 range serves as immediate resistance. A sustained break above this could signal renewed bullish momentum.
Trading Strategy: Given the current market conditions, traders might consider the following approach:
Buy Zone: $2,000 to $2,100
Target: $2,400
Stop Loss: $1,950