Ethereum Price Fractal Targets $2,800 Breakout After $112M Short Squeeze

Ethereum (ETH) is trading at $2,418 today, June 24, with a 7.3% gain in 24 hours and more than $26 billion in spot trading volumes. The recent gains have drawn Ethereum price back to a bullish fractal pattern that hints towards a $2,800 breakout rally. Meanwhile, short sellers continue to face losses, with more than $112 million being liquidated in the last 24 hours after the crypto market rallied following a ceasefire deal between Iran and Israel. Will Ethereum’s fractal play out like 2024, or will selling kill the rally?