$ETH is being heavily compressed in the $3,230ā$3,270 zone. Is this the setup for a powerful breakout, or the precursor to a sharp breakdown?
ETHUSDT
Perp
3,081.57
-3.25%
š¹ Below $3230 is a dense liquidation zone, potentially reaching $3150 break below this level would cause a sharp drop, wiping out buyers.
šø Conversely, the 3280 to $3300 range is a bright spot for short selling orders price surge above $3270 would trigger a Short Squeeze, pushing prices higher.
š¹ Tight liquidity at both ends suggests the market is nearing the end of its sideways trading phase and poised for a breakout.
