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07/18 17:12

ETH price and liquidation fuel Technically, Ether

ETH price and liquidation fuel

Technically, Ethereum has been on bullish momentum, with its prices witnessing a 7% surge in the past day and nearly 30% this week at press time.

Contrary, this rally occurs as long liquidations are rising too as per CryptoQuant data, which might sound bearish at first, but there is more to it.

In moments like these, a long squeeze can act as fuel, not friction. If too many over leveraged longs get flushed and ETH still holds up, the bounce that follows could catch everyone off guard and push things even higher.

Ethereum-Long-Liquidations-All-Exchanges-All-Symbol-768x432.png
With institutions buying in quantities, Coinbase Premium flashing bullish signals and price pushing higher even through liquidations, this looks like more than just a short-term bounce for ETH

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