Crypto
ETH Eyes Key Breakout at $2,560 Amid Leverage Squeeze
Ethereum's price has been rangebound between $2,400 and $2,560 since late August, but Thursday's 5% rally has left investors wondering if it can clear the key level of $2,560.
The cryptocurrency currently trades near $2,508.68, just above its 20-period EMA at $2,455.94, which is a bullish sign.
Heavy short liquidations of $82.41 million in 24 hours and renewed ETH ETF inflows of $141.39 million on September 3 have led to a leverage squeeze and positive crypto capital flows, making the $2,560 breakout a key market-impact and adoption level.