"#Ethereum Faces $106.5M in Liquidations as Price Struggles Near Key Resistance Levels"
$ETH saw $106.52 million in futures liquidations in the past 24 hours, with $56.20 million in long positions and $50.32 million in short positions being liquidated as per CoinGlass data. After briefly surging above $2,600 on Wednesday, ETH was rejected near the 200-day SMA. The price is currently up 2%, with bulls aiming to sustain a move above $2,500. For the next directional shift, ETH needs a strong move either above $2,850 or below the $2,260 - $2,100 range, with potential for a rally toward $3,250 or a drop to $1,688, respectively.
