🔥 Ethereum is on fire — and bears are feeling the heat.
Just moments ago, $ETH broke above the $3,670 level, triggering a cascade of short liquidations across the board. It's a textbook short squeeze, and momentum is building fast.
📊 What Just Happened?
$ETH surged past $3,670, a key resistance zone watched by both bulls and bears
Massive short positions got liquidated, adding fuel to the rally
Ethereum is now eyeing the psychological barrier of $3,800 and beyond
According to Binance Futures data, millions in shorts were liquidated within minutes — with leverage traders caught off guard by the sharp breakout
⚠️ Bears Caught Slipping
For days, Ethereum hovered below $3,600, forming a tight range. Bears bet big on a rejection…
But the breakout caught them flat-footed. 🔥
Now, short sellers are scrambling to exit, while bulls are doubling down.
🧠 Why Is ETH Pumping?
Several catalysts are likely in play:
ETH ETF optimism gaining strength as institutional interest ramps up
Ethereum Layer 2 ecosystems (like Arbitrum and Optimism) showing real growth
Broad crypto market sentiment improving alongside Bitcoin’s climb above $70K
📈 What’s Next?
Now that $3,670 has been flipped into support, the next key resistance levels to watch are:
$3,800 – Psychological resistance
$3,950 – Local 2024 high
$4,000+ – Long-term breakout territory
🛡️ Pro Tips for Traders
✅ If you’re in profits — don’t get greedy. Use stop-losses and lock in gains
🚫 Avoid high leverage during these volatile breakouts
🔍 Watch funding rates — they’re heating up fast, which could
signal a cooldown
