Short Liquidation Fuels Bullish Momentum for Ethereum
I noticed a $91.5K short on ETH got liquidated at $4,490.90, which points to short-covering and upward pressure around that price. This forced buy adds momentum and can amplify a rally in the near term.
I see this as a bullish signal but not proof of a sustained breakout — single large liquidations can produce sharp, short-lived spikes. I want to see follow-through with volume or a clear retest before committing heavily.
My approach is to prefer buying on weakness or after confirmation rather than chasing the initial move.
Analysis
Recommendation
Buy on weakness: consider adding on pullbacks or after a confirmed breakout with volume rather than chasing the spike.
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.