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Prominent Trader: ETH Successfully Breaks Through Bear Market Key Resistance Zone, Reclaims "Golden Ratio" for the First Time

BlockBeats News, August 20th - Renowned trader Doctor Profit stated in a post that Ethereum has thoroughly broken through the key resistance area of the bear market and has re-entered the "golden zone (weekly EMA50)" for the first time since the beginning of this bear market.

Doctor Profit believes that this breakthrough is an important technical signal for ETH and has advised to "fasten your seat belts," while mentioning that shorts will face pressure.

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On-Chain Activity

1h ago

A certain whale, who had shorted 40x, increased their short position by adding 800 BTC, currently making them the largest BTC short on Hyperliquid.

2h ago

The largest ETH short position on Hyperliquid saw its unrealized loss expand to $19.17 million, with the liquidation price currently at $2,189.

2h ago

The $125 million Bitcoin Whale Short Position Has Been Fully Liquidated, incurring a Loss of Around $2.9 Million

2h ago

The second largest BTC long position on Hyperliquid has expanded to $5.82 million, while simultaneously longing ETH with a profit of $3.05 million.

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Prominent Trader: ETH Successfully Breaks Through Bear Market Key Resistance Zone, Reclaims "Golden Ratio" for the First Time

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