Ethereum (ETH) Bulls Place $570M Bet, Buy Signal Confirmed?
Ethereum (ETH) is the world’s second largest cryptocurrency division. On February 11, 2025, a well-known crypto expert posted an article on X (formerly Twitter) saying ETH seems bullish. They further pointed out that the TD sequence indicator flashed the purchase signal for both the daily and weekly time frames.
Ethereum technical analysis and upcoming levels
Apart from this prediction, ETH appears to have shifted its sentiment from bearish to bullish. According to expert technical analysis, ETH recently violated the symmetrical triangle pattern in a four-hour time frame.
According to recent price action and historical patterns, if ETH occupies the breakout area, it is very likely to reach the $3,000 level in the near future.
After the entire cryptocurrency market began to experience upward momentum, sentiment and recent breakthroughs have shifted, attracting significant attention from traders and investors.
Ether bullish chain indicator
According to chain analytics firm Coinglass, ETH Open Isport (OI) grew 6.50%, indicating an increase in participation and the formation of new positions, which supports the bullish outlook. However, Small shop The data also suggests that day traders are currently staking strong bets for a long time.
At press time, the main liquidation level on the lower side was close to $2,620 and the upper side was $2,725, and the trader had too high leverage at these levels.
If market sentiment remains the same and the price rises to $2,725, short positions worth nearly $100 million will be liquidated. Conversely, if sentiment shifts and prices fall to the $2,620 level, a long position worth nearly $570 million will be liquidated.
The liquidation data shows that traders are strongly betting on the long-term side of the long side and currently hold more than five times the long position compared to short positions.
Current prospects of Ethereum (ETH)
As interest and bullish price action rise, ether The current transaction price is close to $2,685, soaring more than 4% in the past 24 hours. However, during the same period, its trading volume increased by 5%, indicating that traders and investors were not involved compared to the previous day.
