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Such a substantial volume of short positions typically exerts downward pressure on the asset, as selling activities dominate the market. However, contrary to these expectations, ETH experienced a swift price recovery, rebounding from $2,604 to a high of $2,698.\u00a0<\/span><\/p>\n This rapid reversal suggests the occurrence of a short squeeze, where traders who bet against ETH were compelled to close their positions, thereby driving the price upward.\u00a0<\/span><\/p>\n Despite the record-breaking short positions, the bears have not managed to seize control of the market, and ETH continues to trade within a range, reflecting a balance between bullish and bearish forces.<\/span><\/p>\n The 4-hour chart of Ethereum shows the asset trading within a well-defined descending channel, following a corrective WXY structure. The corrective wave culminated in a low near $2,500, aligning with the 0.5 Fibonacci retracement level from the prior impulsive wave. This level acted as a pivotal support zone, preventing a deeper decline, despite the price spiking down to $2,125 area.<\/span><\/p>\n [ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":" [ad_1] ETH short positionsSuch a substantial volume of short positions typically exerts downward pressure on the asset, as selling activities dominate the market. However, contrary to these expectations, ETH experienced a swift price recovery, rebounding from $2,604 to a high of $2,698.\u00a0 This rapid reversal suggests the occurrence of a short squeeze, where traders who bet against ETH were compelled to close their positions, thereby driving the price upward.\u00a0 Despite the record-breaking short positions, the bears have not managed to seize control of the market, and ETH continues to trade within a range, reflecting a balance between bullish and bearish forces. ETH Price Analysis The 4-hour chart of Ethereum shows the asset trading within a well-defined descending channel, following a corrective WXY structure. The corrective wave culminated in a low near $2,500, aligning with the 0.5 Fibonacci retracement level from the prior impulsive wave. This level acted as a pivotal support zone, preventing a deeper decline, despite the price spiking down to $2,125 area. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":35500,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-35499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/35499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=35499"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/35499\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/35500"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=35499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=35499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=35499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ETH Price Analysis<\/span><\/h2>\n