Ethereum Rally Halted by Weekend Liquidation Event

Ethereum's recent rally hit a snag over the weekend as $109.66 million in leveraged positions were unwound, forcing long traders to absorb 80.1 percent of the liquidations.

The purge, described as a 'leverage reset' by market observers, knocked Ethereum down 2.6 percent on Sunday to $2,452.20.

Despite the pullback, Ether still trades roughly 30 percent higher over the trailing seven days and 31 percent on the month, with year-to-date losses of 17 percent and a decline of 49 percent from its level a year ago.

The token's price is now about half the distance from its 52-week high of $4,953.73, set last August.