Ethereum Faces Rising Short Squeeze Threat Amid 13,000% Bearish Position Surge
Ethereum (ETH) is currently trading at $2,652 on Monday's session, maintaining its position above the 50-day, 100-day, and 200-day exponential moving averages.
The Relative Strength Index registers 59, indicating moderate bullish momentum without entering overbought territory. However, the MACD has shifted into slightly negative territory, suggesting near-term momentum has moderated.
Short interest on ETH at Bitfinex surged approximately 13,000% over a two-week span, per Coin Bureau's analysis. This extreme buildup in bearish positioning could become powerful short-squeeze fuel if prices advance.
Large holders accumulated more than 320,000 ETH tokens during the past week, representing approximately $864 million in value. The accumulation of these assets is noteworthy given Ethereum's current consolidation phase.