Ethereum slides as geopolitical risks trigger another $1B liquidation wave
Ethereum is sliding toward $2,000 as geopolitical fears and another wave of long liquidations intensify selling pressure. With U.S. CPI due on November 10, a break below psychological support could quickly expose $1,950–1,900.
2160.5
2450.00
The crypto market faced another selloff after reports that the U.S. is preparing for the possible resumption of military strikes on Iran. According to Axios, U.S. forces are finalizing preparations for potential operations, although no final decision has yet been made.
The renewed tension triggered another large wave of liquidations. According to the provided CoinGlass snapshot, $1.12 billion in crypto positions were liquidated over the past 24 hours, with $1.01 billion coming from long positions.
A break below $2,000 could expose $1,900
The base case from the previous analysis played out in full. ETH reached both downside targets at $2,160 and $2,100 before selling accelerated, pushing the price down to $2,060.
Psychological support at $2,000 will be the key level over the next several days. Given the geopolitical backdrop, ETH could face another liquidation wave, with a break lower opening the way toward the $1,950–1,900 zone.
RSI (14) is approaching oversold territory but has not yet reached extreme levels. That suggests the downside may not be fully exhausted.
For a rebound to develop, ETH needs to hold above $2,000 for at least two days. If that happens, the recovery target would shift toward the 200-day SMA near $2,155.
November 10 inflation data presents another test for Ethereum
Geopolitical risk has moved back to the forefront, prompting investors to cut exposure to higher-risk assets. A renewed escalation in military action between the U.S. and Iran could add further pressure to cryptocurrencies, particularly while volatility remains elevated.
Another major test comes on Tuesday, November 10, with the release of the October U.S. Consumer Price Index. The data could reshape expectations for the Federal Reserve’s next policy moves. Combined with geopolitical uncertainty, that raises the risk of another sharp move in Ethereum.
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