Ethereum Shorts Liquidated at $4,621 — Watch for Momentum or Pullback
I noted a cascade of short liquidations in Ethereum with an average liquidation price around $4,621 and approximately $184,846 involved. That level of forced buying suggests a short squeeze and renewed upward momentum.
I think this increases near-term bullish pressure, but it doesn’t guarantee a sustained trend — price can still retrace after a squeeze. I’m watching key support and resistance before committing more capital.
Analysis
Recommendation
I’m watching price action closely. If momentum continues with volume, consider a partial buy on confirmation; otherwise wait for a clear retest of support before adding 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.