Ethereum could be about to break free from a symmetrical triangle pattern, with major upsides possible. Add in over $10B in short positions exposed, and even a modest upside move could set off a cascade of forced liquidations.
That could finally set Ethereum free – free to surge above the previous high-water-mark of $4.9K+, and free to potentially spark one of the most dramatic rallies in years.
The Symmetrical Triangle and Breakout
Over roughly four years, Ethereum’s price has carved out a symmetrical triangle pattern, a structure that often precedes strong directional moves.
Recently, the price cleared the key $4K resistance level decisively, then retraced to retest that level. In classical technical analysis, the former resistance becomes support, making $4K the new basement on which the upward price momentum can build.
Analysis by PlanD on X suggests the support zones between $3.7K and $3.9K are crucial. This zone serves as a guardrail: if buyers defend it with conviction, it may act as the launch pad for the next leg upward. But if price decisively breaks below that area, the bullish thesis loses structural integrity and collapses.
In that worst-case scenario, the analysis fails. But in this case, there’s another piece of evidence to consider.
Short Position Exposure and Potential for a Squeeze
On-chain and derivatives data reveals a potentially explosive backdrop: more than $10B in short positions are concentrated above current prices. Liquidity clusters are especially dense in the $4.2K to $4.4K range.
Should Ethereum push into that zone decisively, it could force many shorts to cover their positions by buying back at higher levels. That, in turn, can fuel a rapid upward spiral, known as a short squeeze.
And that’s not the only bit of good news. General buying pressure on Ethereum continues with the news that whales continue to snap up $ETH even while institutional investors build Ethereum treasuries.
There’s a picture starting to form here, where bullish factors for Ethereum converge to send the price skyward in a hurry. And if $ETH can challenge or even pass its previous ATH, that could send the best crypto to buy right now to the moon.
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2. Ethereum ($ETH) – The Biggest Alt Coin Blue Chip Gets Ready to Surge
Technical breakout, looming short-side liquidations, steady buying pressure; Ethereum ($ETH) could be on the verge of another run to its ATH.
That’s even more bullish news for the biggest, baddest crypto clue chip not named Bitcoin.
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