Ethereum bullish cue from short liquidations at $4,324.80

I’m watching Ethereum (ETH) as short liquidations hit a notable level: $65.1K liquidated shorts at a price of $4,324.80. This dynamic suggests some short-squeeze pressure may be building, potentially signaling a shift in near-term momentum as traders cover bearish bets.

From my perspective, the fact that shorts are being flushed could indicate a tilt toward bullish sentiment, especially if price action sustains above key support levels and volume picks up. While this isn’t a guaranteed uptrend, the liquidation data implies liquidity-driven moves that could attract buyers and trap late shorts.

I’ll be attentive to whether ETH can hold the $4.3k zone and whether buyers defend immediate resistance, as continued short-covering could push ETH higher in the near term. If demand strengthens on pullbacks, the setup may favor further upside potential rather than a return to prior lows.