Ethereum: $24M Liquidation Hits as ETH Drops Below $1600

Ethereum triggered a $24M liquidation on address 0x34d1...4ac1 once price slipped below $1600, leaving the position with 31.5K $WETH supplied against 38M $USDT borrowed at a net $11.84M valuation. ETH price prediction desks now track the 4h structure where price sits at $1590.88 directly on the lower Bollinger support of $1591.17 while RSI(14) prints 17.24 oversold and MACD registers a fresh death cross at -86.52, pinning long-term resistance at the EMA50 level of $1883.26.