Ethereum Liquidations Fuel Short-Term Rebound
Over $155 million worth of short positions were wiped out in the past four hours, signaling aggressive market liquidations across major exchanges. Ethereum ($ETH) led the rebound with over $8.7 million in short liquidations, followed closely by $Bitcoin and $Solana. According to the heatmap, bearish traders are “getting rekt” as Ethereum price sharply recovered toward $3,380, erasing part of this week’s heavy losses.
Technical Analysis: ETHUSD Chart Breakdown
The ETHUSD chart shows Ethereum’s price stabilizing around $3,380, forming a potential short-term bottom. ETH managed to defend the 200-day Simple Moving Average (SMA) near $3,397, a crucial support zone that prevented a deeper breakdown below $3,200.
ETH/USD 1-day chart – TradingView
- Resistance Levels: $3,500 → $3,604 → $3,804
- Support Levels: $3,200 → $3,000 → $2,850
The RSI currently sits around 41, recovering from oversold territory, indicating weakening bearish momentum. Meanwhile, the MACD shows signs of a potential bullish crossover — a signal that could hint at a reversal if momentum sustains above $3,400.
Ethereum Price Prediction: Bulls Need $3,500 Breakout
If Ethereum manages to close daily candles above $3,500, a retest of the $3,800 resistance zone becomes likely. This level coincides with both the 9-day and 21-day moving averages, which currently act as dynamic resistance.
However, a rejection at $3,500 could push ETH back to retest $3,200, with a worst-case scenario around $3,000 — a level where previous accumulation zones lie.
ETH Coin and Market Outlook
Liquidations show a clear shift in market positioning — bears are losing control, and a short squeeze may be underway. As Bitcoin regains ground above $100K, Ethereum could benefit from correlated momentum, especially if volume supports continuation.
If bulls manage to flip $3,500 into support, the path toward $3,804–$3,840 opens up as the next bullish target before a larger test at $4,200.
