Analysis: The risk of a bullish squeeze is rising, and ETH may retest the $1800 support level.

According to ME News, on March 19th (UTC+8), Ethereum fell to around $2,100, a 7% drop on the day, mainly due to the Federal Reserve's interest rate decision and higher inflation expectations. In the past 24 hours, the total liquidation of long positions in the crypto market reached $492.8 million, with over $144 million of ETH long positions being forcibly liquidated. More importantly, CoinGlass data shows that if ETH falls below $2,000, it will trigger over $2.5 billion in leveraged long liquidations across all exchanges, meaning that if short-selling momentum continues, ETH will face a much larger risk of a precipitous drop. Furthermore, the US spot Ethereum ETF recorded a net outflow of over $55.5 million on Wednesday, ending a six-day streak of net inflows. In the past eight FOMC meetings, ETH has fallen after seven of them. Typical post-FOMC pullbacks range from 16% to 23%, with deeper deleveraging phases seeing drops of 33% to 43%. From a technical perspective, $2,100 is the current key support level, coinciding closely with the upper trendline of the ascending triangle and the 50-day moving average. If the bulls can hold this level, the next target is $2,575 (the 100-day moving average), and above that is the triangle's measured target of $2,700. If $2,100 is breached, ETH will retest the triangle support line around $2,000; a further break below the 20-day moving average would risk a drop to $1,800. (Source: ME)