ETH Short Liquidation at $4,487 Signals Short-Term Bullishness
I note a $51.1K short liquidation on ETH executed at $4,487.22 — a clear sign shorts were squeezed and buying pressure entered the market. This implies short-term bullish momentum driven by forced cover and renewed buyer interest.
I’d expect follow-through but also a possible pullback as traders take profits or retest former resistance as support. I’m watching volume and key support levels for confirmation before increasing size.
Analysis
Recommendation
Consider buying on weakness rather than chasing the move. Look for a retest of support or diminished selling pressure before increasing exposure, and keep position sizes conservative with clear stops.
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.