$937 million of leveraged longs died on Thursday. $ETH is $9 above where it started.
Four days ago, a hot US inflation print flushed the derivatives market: ~$937M liquidated in 24 hours, ~84% of it longs, per CoinGlass data. $ETH printed a $2,318 wick that day — then closed at $2,442. The whole cascade, erased intraday.
Since then the tape keeps coming back to check: the $2,289–$2,359 shelf has been tagged three times in four days (Oct 15, 17, 18), and every test held. Four days, three tags, zero closes below the zone. The flush didn't break the range — it built the floor.
The honest risk: the thing that caused it is still in the air. Hot inflation, rate-hike talk — that $2,330 bid is fighting real macro, not ghosts.
Support $2,289–$2,359. Resistance $2,410–$2,484. A daily close under $2,318 and the flush story restarts. Levels, not advice. NFA.
What convinces you the floor is real — a fourth tag holding, or a break above $2,484?
$ETH #Ethereum #PriceAction #Crypto
Four days ago, a hot US inflation print flushed the derivatives market: ~$937M liquidated in 24 hours, ~84% of it longs, per CoinGlass data. $ETH printed a $2,318 wick that day — then closed at $2,442. The whole cascade, erased intraday.
Since then the tape keeps coming back to check: the $2,289–$2,359 shelf has been tagged three times in four days (Oct 15, 17, 18), and every test held. Four days, three tags, zero closes below the zone. The flush didn't break the range — it built the floor.
The honest risk: the thing that caused it is still in the air. Hot inflation, rate-hike talk — that $2,330 bid is fighting real macro, not ghosts.
Support $2,289–$2,359. Resistance $2,410–$2,484. A daily close under $2,318 and the flush story restarts. Levels, not advice. NFA.
What convinces you the floor is real — a fourth tag holding, or a break above $2,484?
$ETH #Ethereum #PriceAction #Crypto