ETH 🚀

Currently, Ethereum (ETH) is positioned for potential short squeezes in its liquidation pools, with significant short-selling activity seen recently. These pools could be triggered if ETH’s price rises notably. For example, a key liquidation target is around the $3,700 level, where high accumulated short positions would start to get liquidated, potentially pushing the price even higher as traders rush to cover their positions. Another significant level for liquidation is approximately $4,100, which would further escalate buying pressure if reached.

Recently, after short liquidation events following modest price gains, traders have become cautious, especially with Grayscale’s decision to pull its Ethereum futures ETF, which has impacted market sentiment and led to even more shorts being opened. If Ethereum experiences an upswing, as some market analysts predict, these short positions may face forced liquidation, resulting in a price surge known as a “short squeeze”   .

Keep in mind that market volatility is high, so potential squeezes depend heavily on ETH’s short-term price movements and broader market sentiment.