Ethereum: $34.1M Liquidated as ETH Falls Below $1550

Ethereum triggered $34.1M in liquidations after slipping below $1,550, with 21,540 ETH wiped out across DeFi protocols and another 343,075 ETH valued at $547M now sitting on the edge.

Mechanics of ETH liquidations in lending protocols like Aave show clusters at $1,565.72, $1,555.04, $1,426.31 and $1,361.73 that could accelerate Ethereum DeFi liquidation cascades if bids fail. On the 4h chart ETH trades at $1594.85 inside a bearish structure where EMA50 at $1860.16 and EMA200 at $2082.99 cap upside while RSI at 19.8 flashes oversold exhaustion and the MACD death cross at -92.31 keeps sellers in control; price hugging the lower Bollinger band near $1545.85 points to further downside tests before any bounce materializes.