ETH: $53.5M Short Liquidated at $1,674 Level

ETH price surged past the $1,674 liquidation threshold shortly after U.S. equity markets opened, triggering the forced closure of 31,600 ETH in short positions valued at $53.5 million belonging to a single whale address.

The liquidated portion posted $4.64 million in realized losses while the remaining $38.64 million notional short now carries a fresh liquidation price at $1,764, roughly $50 above spot.

Price action on the 4-hour chart shows ETH trading at $1,703.11 above both the EMA50 support at $1,615.12 and the upper Bollinger Band resistance at $1,671.5, with MACD maintaining its golden cross at 15.74 and RSI at 67.65 leaving room before overbought conditions; this confluence suggests the bullish momentum driven by the liquidation cascade can extend toward the EMA200 at $1,752.11 before any meaningful pullback materializes.