Ethereum bullish squeeze near $4.3k

Ethereum liquidated short positions totaling $65.1k at the $4,324.80 level, suggesting shorts were forced to cover as price found support around that area. This dynamic hints at underlying bullish pressure and the potential for upside momentum if the price can sustain above recent highs.

Such short liquidations often occur during short squeezes or when momentum shifts decisively, indicating traders may be reappraising downside risk. While this data point is supportive of bulls in the near term, it also underscores the importance of monitoring macro cues, liquidity conditions, and on-chain activity that could catalyze further moves.

Overall, the signal points to guarded bullish potential for Ethereum near and above the $4.3k region, with a need for confirmation through follow-through buying and a clear break above near-term resistance to validate a sustained uptrend.