Technical analysis by Kyle_Jokinjef about Symbol ETH: Buy recommendation (11/6/2025)

Currently, ETH is trading at a 2.23% price rebound from $3,055 in the past 24 hours, triggering a long liquidation of over $1.3 billion. This plunge wiped out many over-leveraged long positions, especially around the $3,200 level. The market is currently heavily biased towards short positions, and a price rebound could trigger a $7 billion short squeeze. Technical indicators suggest that Ethereum's price may have bottomed out. However, hidden bullish divergence on the daily chart suggests a potential trend reversal. Ethereum (ETH) is testing long-term support levels between $3,000 and $2,800, which have historically proven strong. A price rebound could trigger a wave of short liquidation, potentially pushing the price up to $4,000.