Ethereum Price Rebounds Above $2,500 as $822M Liquidations Put 50-Day SMA to the Test

Ethereum has rebounded above $2,500 after another wave of crypto market liquidations wiped out roughly $821.8 million in leveraged positions over 24 hours. However, continued outflows from spot Ethereum ETFs and resistance near the 50-day SMA could limit the recovery. Data from CoinGlass showed that long positions accounted for approximately $689.7 million of the total liquidations, meaning traders betting on higher prices suffered the biggest losses. Ethereum was among the hardest-hit assets, with an earlier snapshot showing around $169 million in ETH liquidations.