watch

ETH Long Liquidation at $29.8K Highlights Upside Risks

I’m noting a recent ETH liquidation of a long position at around $29.8K with the entry price near $4,167.20. This signals reported liquidity drains on longs and potential near-term weakness as downside pressure materializes.

From my perspective, this suggests caution for bullish bets in the immediate term, with sellers showing resilience at key levels and longs facing forced closures that could fuel further pullbacks if buyers don’t step in.

Source available for registered users Sign Up Free

Analysis

The data point of a liquidated long at a high entry price implies weak momentum among long holders and a potential shift in sentiment to risk-off in the near term. If liquidations persist, it can comp...

Recommendation

Recommendation: adopt a cautious stance in the near term. Consider hedging or waiting for more favorable liquidity conditions before scaling into ETH longs. If price holds above critical support ($3.9...

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.

You might also be interested in: