ETH is so exciting right now! Two big players holding over a hundred million in funds are going at it around the $4700 mark, throwing money around like it’s nothing; every little fluctuation is a battle of real money!
The bears launched a surprise attack in the middle of the night: At 12:30 AM yesterday, when the market was nearly asleep, someone suddenly dumped 100 million in short orders! The bears chose to open positions at $4730, setting the liquidation price at $5350. Unless ETH surges more than 13% in a day, these short orders are as stable as a mountain. This move was clearly well-planned, hitting the upper boundary of the recent fluctuation range, specifically targeting the resistance level that has failed to break multiple times.
The bulls retaliated hard this morning: At 7 AM today, another big player came back with 100 million in long orders! The longs were opened at $4750, which is $20 higher than the bears' cost, signaling a strong offensive. However, the liquidation price is set at $4599, leaving only about $150 to the current price. If ETH falls below $4600, the bulls will have to liquidate, and the risk is clearly visible.
Now it's a race for the key levels! Currently, ETH is fluctuating around $4740, just a step away from both sides' opening prices. This showdown is no longer just a simple bet on up or down; it has turned into a race for the two key levels of $4750 and $4600:
The bears need to hold the $4750 mark; if the price remains stable here, the 100 million short position will incur losses; the bulls' liquidation price (4599) will also drift further away; the bulls must defend the $4600 level; if this threshold breaks, the risk of liquidation will spike, and the bears may take the opportunity to expand their victory.
What’s even more critical is the ability of both sides to withstand losses: The bears have a $600 buffer from the current price to their liquidation price, while the bulls only have a $140 safety net. This gap indicates that the bears may be in for a long-term battle, while the bulls are betting on a short-term breakthrough.
Currently, ETH price fluctuations are getting smaller and a big move is imminent! Will the bulls break through the bears' defense line to hit $5000, or will the bears blow up the bulls, triggering a sell-off? Keep an eye on the two key levels of $4750 and $4600; the answer may come out tonight!
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