Ethereum Longs Liquidated: $703K at $4,405 Signals Bearish Pressure
I just had a large ETH long liquidation: average price $4,405.06 with a total exposure of $703,603. The position was closed out and that-sized liquidation creates downside momentum.
I'm questioning whether the bounce is over and I'm not willing to add longs into this volatility; I'll wait for clear support or trend confirmation.
Analysis
The large long liquidation likely triggered stop cascades and amplified selling pressure on ETH; this increases short-term downside risk until buyers step in at stronger support levels.
Recommendation
Reduce long exposure or close positions now; avoid initiating new longs and wait for stabilization or confirmed technical support before re-entering.
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.