Large players have built up massive liquidation volume on their short positions at $2,346. If the price reaches that level, $932 million will be liquidated.
Short sellers are squeezed into such a narrow price range. If bulls break through, shorts will be forced to buy back at market to stop their losses. Then there’ll be no resistance above, and $ETH can keep pushing higher.
Short sellers are squeezed into such a narrow price range. If bulls break through, shorts will be forced to buy back at market to stop their losses. Then there’ll be no resistance above, and $ETH can keep pushing higher.