Ethereum saw $80.2 million in liquidations over 24 hours, with the vast majority being long positions. While this is far less than January’s historic $1.1 billion event, market sentiment remains fearful. Technical analysis reveals a complex picture, with a bullish weekly trend but bearish daily structure, and a key resistance level near $2,353 that could limit any price rally.
Ethereum recorded $80.2 million in liquidations in the past day, with $65.6 million of that from long positions. These figures were described as relatively tame compared to the $1.1 billion in ETH liquidations on January 31.
The broader crypto and stock markets were in a state of extreme despair following recent losses. Meanwhile, the unrealized profit ratio for Ethereum whales returned to positive territory as prices surpassed $2,000.
On the weekly timeframe, ETH maintains a bullish swing structure based on its 2025 rally. A Fibonacci retracement analysis highlighted the 78.6% level at $2,147 as a key zone for bulls to reclaim.
One concern noted was that the On-Balance Volume (OBV) had made a lower low compared to April 2025. The Moving Average Convergence Divergence (MACD) indicator also showed no bullish crossover on that timeframe.
The daily chart structure was bearish, while the four-hour structure was bullish. These were conflicting signs, unlike Bitcoin [BTC], which was bearish on both the weekly and daily timeframes.
A potential Bitcoin rally toward the $83,000 to $89,000 range could propel Ethereum toward $2,770 to $3,049. This optimistic scenario hinges on strong demand, which the weekly OBV’s lower low suggests may be lacking.
Investors were also reminded of the aggregate realized price near $2,353 mentioned in analysis. This area could see selling pressure as holders might exit at breakeven given the fearful market conditions.
