Ethereum Longs Liquidated at $4,400 — Short-Term Pressure, Watch for Follow-Through
I noticed a $2.98M liquidation of ETH long positions executed around $4,400. That forced selling likely added short-term downward pressure and raised volatility.
While painful for those levered longs, $2.98M is small versus Ethereum's overall liquidity and daily volume, so the move may be transient absent further selling.
I will monitor price action and volume at nearby supports; I won’t add a full-sized long until I see consolidation or a clear reversal, though a disciplined small buy-on-weakness with tight stops could be considered.
Analysis
Recommendation
Watch price and volume for confirmation. Avoid initiating large longs immediately; consider small, controlled buy-on-weakness or wait for consolidation and clearer reversal signals.
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.