📉 Need help turning this trade green NOW! 📈 I’m in a tough spot with my ETHUSDT Perpetual (3x Isolated) trade. Unrealized PNL: -$20.87, ROI: -136.69%. Current mark price: $2547.29, entry: $3706.73. Margin ratio: 0.31%—close to liquidation!💡 Can you suggest how much margin to add to make it profitable immediately? Attach your ideas below
The ETH liquidation data over the past 24 hours shows a total of $19.95M liquidated, with $12.51M from long positions and $7.44M from short positions. The last 12 hours saw a significant spike in liquidations, with $9.19M liquidated, predominantly from longs ($7.96M). In the past 4 hours, $389.43K was liquidated, mostly from longs ($333.86K), indicating a possible short-term downward movement. However, the recent 1-hour data shows $90.15K liquidated, mainly from longs ($78.84K), suggesting ongoing volatility.
Given these trends, the market appears highly volatile with a slight bearish sentiment in the short term. Like, share, and follow for more insights. Author: ShahXad. $ETH
Professional insights and potential trends for the next 24 hours
Total liquidations in the past 24 hours amounted to $25.30 million. Long positions liquidated: $10.34 million. Short positions liquidated: $14.96 million.
The higher liquidation of short positions ($14.96 million) compared to long positions ($10.34 million) suggests that the price has been moving upward, causing short positions to be liquidated at a higher rate. This trend indicates a bullish sentiment, with traders betting against Bitcoin (short positions) being forced to close their positions due to rising prices.
- In the last 4 hours, the liquidations were primarily short positions ($1.09 million in shorts vs. $24.42K in longs), reinforcing the short-term upward trend. - However, in the last 1 hour, there were only liquidations of long positions ($5.02K), indicating a slight downward movement or a minor correction.
Potential Strategy for the Next 24 Hours:
Bullish Outlook: - Given the higher short liquidations over the past 24 hours and the trend of upward movement, the market sentiment appears to be bullish. Share and like it 😊 Follow for more updates
Important: Total Liquidations: $25.30M Long Liquidations: $10.34M Short Liquidations: $14.96M In the past twenty-four hours, $25.30 million in positions were liquidated, with $10.34 million in long positions and $14.96 million in short positions.
As of today, July 10, 2024, Ethereum (ETH) is trading at approximately $1,950, showing a modest increase of around 1.3% over the last 24 hours. This uptick follows a period of relative stability, with ETH fluctuating within a narrow range over the past week. Analysts note that Ethereum has been consolidating just below the $2,000 resistance level, which remains a crucial psychological barrier for the asset.
Recent developments in the Ethereum ecosystem have contributed to its current performance. The successful implementation of the Shanghai upgrade has enhanced network efficiency and scalability, which in turn has bolstered investor confidence. Additionally, the continued growth of decentralized finance (DeFi) applications and non-fungible tokens (NFTs) on the Ethereum blockchain has driven significant transaction volume and utility, underpinning its value.
Market sentiment towards Ethereum remains positive, largely driven by its robust fundamentals and widespread adoption. However, like Bitcoin, Ethereum is not immune to macroeconomic influences. Factors such as global economic conditions, regulatory developments, and interest rate decisions by major central banks continue to play a critical role in shaping market dynamics. #eth
Looking ahead, Ethereum's price trajectory will likely be influenced by its ability to maintain network upgrades and foster innovation within its ecosystem. Investors and analysts are keeping a close eye on the potential approval of an Ethereum ETF, which could attract substantial institutional investment and provide a further boost to its price.
In summary, while Ethereum currently faces resistance at the $2,000 mark, its strong fundamentals and ongoing technological advancements position it well for potential upward movement, contingent on broader market conditions and continued adoption within the cryptocurrency space.
As of today, July 10, 2024, Bitcoin is trading around $30,600. Over the past 24 hours, it has increased by approximately 1.5%, maintaining relative stability compared to recent performance.
Key points from the current analysis:
Bitcoin faces resistance at $31,000, and if it breaks this level, it could aim for $32,500. On the downside, support is found at $29,500, with a stronger support level at $28,000 if it declines further.
The sentiment is cautiously optimistic due to institutional interest and macroeconomic factors. Potential regulatory developments, like the approval of a Bitcoin ETF in the US, could significantly impact the price.3. Interest rate decisions by the US Federal Reserve and global economic stability are influential. Favorable economic conditions may support Bitcoin's growth, while unfavorable conditions could exert downward pressure. #BTC_Bounce_Back_to_57k #BinanceTournament
The current trading activity suggests that Bitcoin's price action is in a consolidation phase, awaiting major market catalysts for a decisive move.$BTC