$ETH Ethereum experienced futures contract liquidations of $64.61 million, with buy and sell liquidations totaling $35.61 million and $29 million, respectively, over the last 24 hours, according to Coinglass data.
⏩Ethereum continues to consolidate on Wednesday, maintaining support at $2,450 at the 38.2% Fibonacci Retracement. If ETH can surpass the 50-day Exponential Moving Average (EMA), it could quickly rise to test resistance at $2,850.
📈To address the key resistance at $2,850, ETH requires a surge in volume accompanied by strong bullish sentiment.
➡️On the downside, movement below the 38.2% Fibonacci level and the lower boundary of the main channel could send ETH towards the range of $2,260-$2,110.
🔥The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are below their neutral levels and moving sideways, indicating dominant bearish momentum.
