ETH is trading around *$2,569* down *-4.8%* today.
*What happened:*
- Opened at $2,698, crashed to $2,552 low
- $232M in liquidations in 24h, 95% were longs ($221M)
- Classic leverage flush, not organic selling
*Context:*
- BTC also slipped below $84k
- Pressure from rising US Treasury yields, stronger dollar, and higher oil prices ahead of Fed minutes
- ETH is now testing its 50-day SMA at $2,546
*Levels to watch:*
Support: $2,546 -> $2,357
Resistance: $2,700 -> $2,800
Monthly still +8.13%, YTD still -10%
This is a leverage washout, not a trend reversal yet. If $2,540 holds, bounce likely. Avoid new leverage longs for now.
#ETH #Ethereum
*What happened:*
- Opened at $2,698, crashed to $2,552 low
- $232M in liquidations in 24h, 95% were longs ($221M)
- Classic leverage flush, not organic selling
*Context:*
- BTC also slipped below $84k
- Pressure from rising US Treasury yields, stronger dollar, and higher oil prices ahead of Fed minutes
- ETH is now testing its 50-day SMA at $2,546
*Levels to watch:*
Support: $2,546 -> $2,357
Resistance: $2,700 -> $2,800
Monthly still +8.13%, YTD still -10%
This is a leverage washout, not a trend reversal yet. If $2,540 holds, bounce likely. Avoid new leverage longs for now.
#ETH #Ethereum