I just noticed that ETH is experiencing quite strong selling pressure. The current price is around $2.34k, down about 1% in the past 24 hours. But what's interesting is that it just touched $2.42k and then dropped back down, fluctuating quite intensely from $2.33k to $2.42k. Trading volume is also quite high at $330 million.

Looking at the technical indicators, ETH is still below the main moving averages. The downward momentum remains strong according to TSI, although there are some signs of stabilization. The nearest resistance is focused around $2,100–$2.2k, while the main support is forming near $1,825, with a deeper zone at $1.75k.

Liquidation data shows a fairly unbalanced situation. The total liquidation over 24 hours is $60 million, with long positions dominating at $42.68 million. However, on shorter timeframes, liquidations are more balanced, indicating that price squeezes are only short-term amidst broader buying pressure. The market capitalization is currently at $282 billion, still quite substantial.