Ethereum Price Dances on Edge of Short Squeeze

Ethereum's price is trading near $2,649.67 as of September 28, testing the 0.5 equilibrium near $2,640 and the $2,635-$2,600 reaction zone left by the September 24 liquidity sweep.

A reclaim of $2,680-$2,700 would restore momentum toward a potential short squeeze to $2,789 and could trigger a short squeeze, while a sustained four-hour close below $2,600 would invalidate the immediate bullish setup and raise downside risk for crypto and DeFi traders.