CandleFocus Ethereum (ETH) Price Eyes $2,600, Could Trigger $700 Million Short Squeeze
2024-10-03
Author: Content Editor
The article discusses Ethereum's recent price decline and the factors that could drive its value higher. Despite a loss of nearly 9% in the past week, there are indications that the price could rebound. The increase in Ethereum's Coin Holding Time suggests that long-term holders are maintaining their positions, which is a bullish indicator. A potential increase to $2,644 could drive over $700 million in short liquidations and lead to a short squeeze. Bulls are defending the price, and if buying pressure intensifies, Ethereum's price could climb to $2,690 and potentially reach $3,202. However, a breakdown below the trendline could invalidate this forecast.
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