Michaël van de Poppe reports that Ethereum has hit its first level and is breaking upwards for $ETH, with markets now at the optimal sweet spot to hold and reverse higher rather than expecting another drop.

According to Lookonchain, wallet 0x8c58 is short ETH at 20x leverage and is currently down over $26 million, source: Lookonchain on X. According to Lookonchain, the position will be liquidated if ETH reaches $5,002.3 unless additional margin is added in time, source: Lookonchain on X. According to Lookonchain, $5,002.3 is the identified liquidation threshold for this account, making it a key ETH price level to watch, source: Lookonchain on X.