Ethereum Short Squeeze — $806K Liquidated at $4,634
I noticed a large short liquidation in Ethereum: $806,000 of short positions were liquidated at about $4,634.21.
I view this as a short-squeeze signal that likely created near-term buying pressure and reduced immediate downside risk.
I would watch follow-through volume and key levels; aggressive traders can add exposure on momentum, while conservative traders should wait for confirmation or scale in gradually.
Analysis
Recommendation
I recommend a cautious buy: consider adding a position on momentum or a confirmed reclaim of nearby resistance, and manage risk with tight stops or scaled entries.
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.