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Ethereum approaches $4,000 and could settle $835 million in shorts
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The cryptocurrency market is in high tension as the Ethereum (ETH) continues its upward trajectory. With the current price around $3,565, the second largest cryptocurrency in the world is one step away from reaching the US$4,000 mark.
This movement could trigger the liquidation of more than US$835 million in short positions, configuring an event of great impact for the markets.
A liquidation map reveals significant concentrations of shorts between the $3,800 and $4,000 levels. As the price of Ethereum advances, the risk of liquidations grows exponentially. When the price breaks the US$4 thousand barrier, the data shows a jump in accumulated settlements.
This suggests that many traders bet against ETH’s uptrend, and the possible activation of these orders can act as fuel for an even greater increase in price.
Ethereum: bullish trend keeps the market optimistic
The daily chart of Ethereum shows a clearly positive trend. After overcoming the $3,200 resistance, the asset established new supports at $3,300 and $3,500.
Exponential moving averages (EMAs) of 50, 100 and 200 periods consistently point upwards, reinforcing investor optimism.
The current rally began in early November when ETH emerged from a consolidation phase. Now, the market is closely monitoring the $3,800 resistance. If this barrier is overcome, Ethereum will have room to test the US$4,000 mark.
Although the scenario appears favorable, the market is facing an increase in volatility. Support at $3,300 will be crucial to avoid a significant correction if the price faces rejections before reaching $4,000.
On the other hand, if Ethereum (ETH) surpasses this mark, the mass liquidation of shorts could create a ripple effect, driving the price even higher.
Ethereum approaches $4,000 and could settle $835 million in shorts
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Ethereum approaches $4,000 and could settle $835 million in shorts
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Ethereum approaches $4,000 and could settle $835 million in shorts
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Ethereum approaches $4,000 and could settle $835 million in shorts
