$ETH Short Liquidation at $2,972.48 Signals a Shift in Momentum: A Fresh Setup to Consider

A recent short liquidation on Ethereum—totaling $50.9K at the price of $2,972.48—has added a notable burst of volatility to the market. When a cluster of short positions is forced to close, it often reveals that sellers were caught leaning too aggressively against price strength. This kind of liquidation event frequently precedes a momentum continuation, especially if buyers manage to hold the reclaimed levels that follow.

For traders monitoring ETH closely, this moment provides a chance to map out a new potential setup grounded in fresh liquidity dynamics.

Quick Setup

Entry Range: [Range]

This range represents the ideal pocket where a pullback or retest could allow for a strategic entry, especially if price stabilizes after the liquidation spike.

Targets:

TP1: [TP1]

TP2: [TP2]

TP3: [TP3]

These targets should correspond with nearby resistance, liquidity layers, or prior structural turning points on the chart.

Stop Loss: [SL]

Position your stop below a key structural low or a clear invalidation point to protect against a deeper pullback.

Break Level to Watch: [Level]

A strong break and hold above this level typically confirms renewed upward momentum and sets the stage for the next leg in the move.

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