Ethereum

Convergence

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Momentum

Divergence

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereums-price-soars-triggering-major-trade-liquidations" rel="noopener noreferrer nofollow">Ethereum’s Price Soars, Triggering Major Trade Liquidations</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/jp-morgans-outlook-on-bitcoin-and-ethereums-future-performance" rel="noopener noreferrer nofollow">Ethereum</a> has experienced a substantial increase in value over the past four days, resulting in significant market liquidations. The cryptocurrency displayed a notable uptrend, marking its second major price hike this year on February 12th. This ascent also affected the volume of liquidated trades, with a particular impact on short positions.</p>
<h2 id="market-indicators-show-bullish-momentum">Market Indicators Show Bullish Momentum</h2>
<p style="text-align: justify">Although there were slight downturns, Ethereum’s value continued its upward trajectory, recording its third significant rise for the year on February 14th, with an increase exceeding 5% to surpass the $2,776 mark. The asset’s short-term moving average has been providing support at approximately $2,400. The Relative Strength Index (RSI) has been signaling a strong uptrend, with the RSI line breaching the 75 threshold, pointing to a potential overbought condition for Ethereum.</p>
<p style="text-align: justify">This bullish momentum is further corroborated by the Moving Average Convergence Divergence (MACD), which has its lines stationed above the zero level, reinforcing the positive outlook. The significant rise in Ethereum’s price on February 12th, which was over 6%, led to a notable liquidation of short positions as per the data from Coinglass.</p>
<h2 id="impact-on-leveraged-positions">Impact on Leveraged Positions</h2>
<p style="text-align: justify">Data revealed a total of $26.5 million in short position liquidations and $11.8 million in long position liquidations, following the price spike. Subsequently, a minor price decline resulted in even higher liquidation volumes, particularly affecting long positions with over $26 million liquidated. By February 14th, the data depicted a marked increase in the volume of liquidated short positions, amounting to over $29 million over the span of four days, with approximately $4.4 million in short positions liquidated.</p>
<p style="text-align: justify">Analysis of the funding rate in the Ethereum market suggested a dominance of buyers, evidenced by a consistently positive rate. During the price increase on February 13th, the funding rate peaked at roughly 0.02%, though it has slightly retreated to about 0.01% at the time of reporting.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereums-price-soars-triggering-major-trade-liquidations" rel="noopener noreferrer nofollow">Ethereum’s Price Soars, Triggering Major Trade Liquidations</a></h5>

Ethereum’s Price Soars, Triggering Major Trade Liquidations

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