Ethereum: $50.9K Short Liquidated at $4,604.88 — Watch for Follow-Through
I noticed a $50.9K short liquidation on Ethereum at $4,604.88.
That liquidation suggests short-covering and immediate upward pressure, but the size is modest relative to overall ETH liquidity, so I need to see follow-through volume and price action.
I'll monitor the market for confirmation; I may add on a confirmed breakout or on weakness near clear support levels, otherwise I'll remain cautious.
Analysis
Recommendation
Watch price and volume for follow-through; consider a partial buy on confirmed breakout or buy on weakness near support, but avoid committing large size until confirmation arrives.
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.