Family, who understands! Ethereum is on a roller coaster, over 1 billion long positions are at risk

Family, the cryptocurrency market has been too exciting lately, with Ethereum's price soaring and plunging, like riding a 'death-speed' roller coaster. Everyone is now focused on Ethereum's movements.

According to liquidation map data, if Ethereum drops another 4%, to $1731, $973 million in long positions will be liquidated. These long positions are likely due to the market's surge, with investors fearing they would miss out on profit opportunities. After all, in less than two days this week, Ethereum surged by 15%.

From the four-hour chart, it can be seen that after the previous surge, the price rose to the supply zone of $1780 - $1820, and today it is at $1802. Moreover, the Relative Strength Index (RSI) has started to decline after reaching the overbought zone, showing lower lows, which signals a weakening trend. In the past month, when the RSI has declined from the overbought zone, Ethereum's price has also pulled back, and this time is likely no exception.

During the weekend, ETH's price is highly volatile, easily triggering capital flows. If it drops to $1731 or even lower, the longs will suffer greatly! But the market is unpredictable; perhaps there will be a surge before liquidating the longs to wipe out the shorts.

The weekend is crucial, with two key prices to watch closely: $1840 and $1890, and it might even rise to $1900. If it breaks through this range, attracting longs and closing shorts, it could signal a price drop.

From a downside perspective, Ethereum must hold above $1669, with a minimum of $1600, to maintain the upward trend; otherwise, the longs will be in trouble. If looking for a rebound, consider meme stocks in the primary market, like Trump's dog Conan, which has great potential and might make a significant comeback in the second half of the year! 进来聊聊天 币安王牌KOL交流群，点击加入！ #美股财报周来袭 #MichaelSaylor暗示增持BTC $BTC $ETH