As per Coinomedia, Ethereum (ETH) dropped to $3,050, triggering $1.3B in long liquidations. The price now targets a $7B short liquidity cluster near the $4K level, with potential for a short squeeze if ETH pushes upward. On-chain data shows nearly $7 billion in short positions stacked just below this key resistance. A successful breakout could lead to rapid upward momentum, while a failure might result in further consolidation or a downside move.
ETH Faces $7B Short Liquidity Wall Near $4K
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