ETH price below $4K: Ethereum’s ‘biggest loser’ hit with $36.4M liquidation

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Key takeaways:

  • One ETH trader lost a staggering $36.4M in a single liquidation, bringing total losses to over $45M.

  • Ethereum faces large liquidation clusters between $2,370 and $2,500.

  • Technical analysis suggests another 10-15% drop in Ether price this month.

Well, here’s a twist for the ETH traders: a soul-crushing loss of $36.4 million in one liquidated bet, as Ether (ETH) crashes below the $4,000 threshold on Thursday.

Ether suffers over $718 million in long liquidations

In a most unfortunate tale, Wallet “0xa523” had staked 9,152 ETH betting on a price rise-only to get utterly wiped out in one of the most dramatic losses of the past 24 hours.

Now, Wallet “0xa523” is left with a mere $500,000, and the total realized losses have surpassed $45.32 million, making it Ethereum’s “biggest loser” according to Lookonchain.

The wipeout is part of a $331.66 million long squeeze that has ruthlessly punished bullish traders in the past 24 hours, as reported by CoinGlass data.

In fact, this week alone, Ethereum traders have endured losses exceeding $718 million in long liquidations, while short traders have only faced $79.62 million in losses. Ether’s price has plummeted by 10.56% during the same period.

CoinGlass’s liquidation heatmap reveals a massive accumulation of leverage between $2,370 and $2,500.

If the ETH price continues its downward spiral, many long positions are likely to get liquidated in this range, creating a perfect storm of selling pressure until the market finds its footing again.

On the upside, however, there’s a cluster around $4,760-$5,000. If the price rebounds, short sellers might be forced to buy back, causing prices to rise-so it’s not all doom and gloom!

ETH price technicals hint at another 10-15% drop

Ethereum has confirmed a breakdown from a symmetrical triangle pattern on the daily chart, which, in the world of technical analysis, is typically a bad omen after a strong uptrend.

This shift suggests a bearish bias, with the next potential target hovering around the 0.382 Fibonacci retracement level, near $3,595. That’s about a 10% drop from current levels in the short term.

This target aligns with a support zone between $3,600 and $3,400, as indicated by Ethereum’s Volume Profile (VPVR). It also coincides with ETH’s 200-day exponential moving average (200-day EMA; the blue wave) around $3,392. If the sell-off gains momentum, a 15% drop isn’t out of the question, especially if October brings further pain.

Can ETH prices recover?

Popular analyst Kamran Azghar sees around $3,600 as a “key demand” zone. If the price rebounds from this level, it could push ETH to $4,900 or higher.

On the weekly chart, Ethereum’s price is currently testing a key horizontal support zone around $3,800-$4,000, as highlighted by analyst Cold Blood Shiller.

This level previously acted as resistance during the 2022-2023 cycle. If ETH successfully defends this level, it would indicate a potential bullish continuation, transforming old resistance into new support.

There’s still hope! A rebound toward the $4,760-$5,000 range remains possible, provided ETH bulls can defend the $3,800-$4,000 range in the coming days.

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2025-09-25 17:02