📉 Sudden Drop & Impact
Crash details: $ETH plunged from around $2,550 to ~$2,269 on Binance—nearly a 6.2% drop within 24 hours .
Intraday extremes: Brief crash touched lows near $2,235, triggering widespread stops and liquidations
🔍 What Triggered the Crash?
Technical breakdown: Ethereum failed at the ~$2,550 resistance (“iron lid”) and broke key supports (50-day SMA), prompting massive liquidations .
Macro headwinds: US stock market weakness acted as a catalyst—crypto often moves in tandem .
Options expiry pressure: A surge in options expiry contracts increased bearish positioning, adding downward force
🧨 Liquidation Storm
Around $200M wiped out across crypto; Ethereum longs alone faced ~$57M in liquidations .
Binance liquidated many leveraged positions as prices crashed through support thresholds .
🛑 Support Levels to Watch
Current support has fallen to the $2,200–$2,300 range.
If this cracks, a test of $2,000 could unfold swiftly .
🧭 Summary
Ethereum on Binance saw a sharp one-day drop of more than 6%, driven by technical sell-offs, macro market fluctuations, and options-related unwindings. This resulted in a massive liquidation event and pushed ETH into new short-term support zones.
✅ What to Do Now
Risk managers: tighten your stop-losses and monitor if ETH stabilizes above $2,300.
Bargain hunters: look for recovery signals—especially if broader markets find a bottom.
Traders: keep an eye on next support at $2,200 and potential bounce at EMA/SMA levels.
