Ethereum Long Liquidation ($2.97M) at $4,426 Signals Short-Term Weakness
I saw a $2.97M Ethereum long get liquidated at $4,426.31. That size of forced selling is a clear sign of recent short-term weakness and volatility around this price area.
I'm treating this as a warning: price may have experienced a stop-run or a brief capitulation, so support levels could be tested before a sustainable rebound. I'll be cautious about adding fresh longs until I see confirmed stability.
Analysis
Recommendation
I recommend avoiding new long positions for now, tightening stops on existing longs, and watching for price to reclaim reliable support/resistance before increasing exposure.
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.