Ethereum Liquidation Data! $900 Million Short Can Be Liquidated!

• Ethereum’s current liquidation data shows that there is a $983 million short liquidation up to the level of $1896, and if it drops to the level of $1821, a $355 million long position will be liquidated.
• If the ETH price continues to stay above the $1840 support, it may aim to continue the upward trend and target the level of $1917.
• The possibility of the market experiencing an upward movement towards accumulation can be evaluated by examining the liquidation data and technical charts.

When we look at Ethereum’s current liquidation data and technical chart, the movements of the price above the $1840 support and investor positions highlight the potential for future upward movement.

Ethereum Support and Resistance Levels

When we examine Ethereum’s current technical chart, the range of $1858 – $1840 becomes a significant support zone. If the ETH price continues its upward movement with 5-hour candle closures above the $1840 support, it can reach the target level of $1917.

However, if the Ethereum price makes 5-hour candle closures below the $1840 level, it can extend the downward movement to $1828 first and then to the $1791 support. If the ETH price encounters strong buying reactions from this support level, it can rise up to the $2100 level, starting from this level.

Ethereum Short Liquidation Rates Exceed $900 Million!

When we look at Ethereum’s current liquidation data, we see that there is a $983 million short liquidation in the part up to the $1896 level of ETH. If the ETH price rises to the $1896 level, $983 million worth of short trades will be liquidated.

On the other hand, when we examine the downward liquidations, it is stated that if the ETH price drops to the $1821 level, a total of $355 million worth of long positions will be liquidated. Considering these data, it can be seen that there is a higher possibility of Ethereum experiencing an upward movement in the coming days.

As mentioned in the analysis, if the ETH price stays above the $1840 level, it may initiate the upward trend. In this case, it is stated that with just a $33 increase in the Ethereum price, $983 million worth of short trades will be liquidated, and with a $45 decrease, $355 million worth of long trades will be liquidated.

Taking all these data into consideration, it can be concluded that the market may experience an upward movement towards accumulation.