$ETH experienced a notable short liquidation event as bearish positions were forced to close, triggering automatic market buys and adding fuel to the ongoing recovery attempt

The $34.607K short liquidation at $1,730.37 highlights growing pressure on short sellers, as price moved against bearish positioning and forced leveraged traders out of the market

EP
1,715 - 1,735

TP
TP1 1,760
TP2 1,800
TP3 1,860

SL
1,680

Liquidity was swept above nearby resistance levels, removing excess short exposure and creating a healthier market environment for potential upside continuation

The liquidation event suggests buyers are regaining short-term control, with bearish traders being forced to cover positions as momentum strengthens

Current price action places the 1,710 - 1,725 region as an important support zone that bulls will need to defend to maintain the recovery structure

As long as higher lows continue forming above support, the probability of a move toward higher liquidity targets remains favorable

A successful reclaim of 1,760 could attract fresh momentum buyers and open the path toward the next resistance levels near 1,800 and 1,860

The short squeeze has reduced bearish leverage across the market, while the resulting buy pressure may continue supporting upside momentum if volume remains elevated

Traders will be closely watching whether $ETH can build on this liquidation-driven strength and extend its recovery toward higher resistance zones

Let's go $ETH ‌