Another brutal red candle has crushed long positions, with a significant $62.9K liquidated at $2482.39. It seems the bulls have been decisively wiped out at this critical level.
Market Mood: Bearish (Short-Term)
$ETH has just broken below key support, indicating significant weakness from buyers. The momentum is clearly on the bears' side for now, and a deeper correction appears likely.
Next Move Suggestion:
Given the current bearish sentiment and broken support, it's prudent to wait for a potential deeper dip before considering new long positions. For those inclined, short scalping could offer opportunities until Ethereum shows definitive signs of recovery and a shift in momentum.
Potential Targets (If Downtrend Continues):
* TP1: $2430
* TP2: $2375
* TP3: $2290
BUT... if $ETH miraculously holds support and manages a bounce:
* TP1: $2550
* TP2: $2610
* TP3: $2680
Current Price: $ETH 2,501 (-9.42%)
The market is clearly reacting to recent macro events, with the #MarketPullback likely exacerbated by ongoing geopolitical tensions like the #IsraelIranConflict. Keep an eye on global news for further market impact.
What are your thoughts? Are we headed for a deeper correction or is a bounce imminent? Share your insights below!
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