ETC short liquidated at $22.64 — short-covering lift, watch price action
I noticed a $50.5K short on Ethereum Classic was liquidated at $22.64, which likely forced buying and pushed price higher in the short term.
That liquidation suggests short-covering momentum, but it’s a single event and not proof of a sustained trend reversal.
I’m watching volume, order book depth and nearby support/resistance before increasing exposure.
Analysis
The liquidation indicates immediate short-covering demand that can create a temporary spike; however, without confirming volume and follow-through, it’s noise rather than a confirmed breakout.
Recommendation
Watch price action and let confirmation arrive — look for sustained volume and clear support above $22 before committing. Avoid chasing the initial move.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.