Massive Liquidation Alert: $ETH Crashed to $1575.99 with $16.051K Longs Wiped Out!
The bulls just got wrecked as Ethereum plunged into deep waters, triggering long liquidations worth over $16K at the $1575.99 level. This sharp drop screams "Opportunity!" for smart traders watching the charts closely.
What does this mean?
Panic has shaken out weak hands — and historically, this level has acted as a major bounce zone. With liquidations flushed, the path could be clear for a reversal.
Technical Analysis for $ETH
Current Price Range: Around $1585. 99 (may vary slightly)
Buy Zone:
$1565 – $1585
This is a strong demand zone formed after the liquidation. Ideal for entries after confirmation of support.
Targets:
Target 1: $1645
Target 2: $1698
Target 3: $1745 (if momentum continues)
Stop-Loss:
Below $1549
A clean break and close below $1549 would invalidate the bullish reversal idea and indicate more downside risk.
Strategy Tip:
Wait for bullish confirmation — like a strong hourly close above $1590 or a bullish engulfing candle near support. Volume spike after the dip could also signal accumulation.