Over $170 million in Long ETH positions got wiped out in just 24 hours, with the price plummeting from $3,150 to $2,920. This figure says a lot about the current market health.
ETH is under double pressure: a domino wave of liquidations as over-leveraged positions get wiped out, combined with Bitcoin failing to hold $62,000, which spreads a bearish sentiment. The influx of ETH into exchanges spiked, and open interest dropped by 15% — a sign of short-term capitulation.
The $2,900 level is being tested. A death cross on the 4H chart and RSI nearing oversold levels indicate that the downtrend is still dominating. But I've noticed one thing: whales are still accumulating during this volatility. That could be a signal of accumulation, or they might simply be waiting for a deeper dip to buy at better prices.
The market is searching for a true bottom. With high interest rates and a strong DXY, the pressure remains. Consider these large liquidations as a reminder of leverage risk. Capital management is paramount.
#ETH #Altcoin #ĐầuTư #Crypto
ETH is under double pressure: a domino wave of liquidations as over-leveraged positions get wiped out, combined with Bitcoin failing to hold $62,000, which spreads a bearish sentiment. The influx of ETH into exchanges spiked, and open interest dropped by 15% — a sign of short-term capitulation.
The $2,900 level is being tested. A death cross on the 4H chart and RSI nearing oversold levels indicate that the downtrend is still dominating. But I've noticed one thing: whales are still accumulating during this volatility. That could be a signal of accumulation, or they might simply be waiting for a deeper dip to buy at better prices.
The market is searching for a true bottom. With high interest rates and a strong DXY, the pressure remains. Consider these large liquidations as a reminder of leverage risk. Capital management is paramount.
#ETH #Altcoin #ĐầuTư #Crypto