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Ethereum’s order book reveals strong buy clusters between $3,800-$4,200, creating a potential support zone for dip buyers. Meanwhile, over $5 billion in short positions face liquidation if ETH reaches $5,000, setting up a potential squeeze scenario. Technical analysis shows ETH forming a bullish pennant pattern, with a breakout above $4,600 potentially opening the path to $5,000.
- $5 billion in short positions face liquidation if ETH reaches $5,000, potentially triggering a massive squeeze
- Strong buy order concentrations between $3,800-$4,200 provide substantial support against price declines
- ETH forms bullish pennant pattern on 4-hour charts, with $4,600 breakout level key for rally to $5,000
📎 Related coverage from: cryptopotato.com