Ethereum Faces Major Liquidation and Bearish Technical Signals
Ethereum's price has fallen below $4,000, triggering a $36.4 million liquidation for a single trader. This event contributed to over $45 million in losses and a $331.66 million long squeeze in 24 hours.
Technical analysis indicates further downside risk, with ETH breaking a symmetrical triangle pattern. Liquidation heatmaps highlight potential clusters around $2,370-$2,500, with the 200-day EMA at $3,392 suggesting a possible 15% drop.
Despite bearish signals, some analysts see support zones around $3,600 and $3,800-$4,000, potentially leading to a rebound towards $4,760-$5,000.