The resistance test also revealed a contest between aggressive buyers and traders positioned against Ethereum’s advance.
On the 19th of August, Ethereum’s hourly Taker Buy Volume reached $2.55 billion. It was the third-highest hourly reading since the 7th of February.
Such orders consume available sell liquidity. Simply, this shows that as the rally continued, buyers have been accepting higher prices to fill their orders.
However, that pressure is meeting sizeable leveraged opposition. According to Lookonchain data, two Hyperliquid whales hold combined shorts of 50,838 ETH, worth roughly $98 million.
Their positions therefore turn continued buying into a potential pressure point rather than simply another demand signal. One liquidation level sits near $2,273, placing it directly around ETH’s advance.
# Trending Token Price Prediction Challenge #HTX 13th-Anniversary Carnival #HTX Creation Challenge — Post and Win 1,500U
All Comments0LatestHot