Analysis: Long Squeeze Risk Rising, ETH May Revisit $1800 Support Area

March 19th – Ethereum slid to roughly $2,100 Wednesday, posting a 7% intraday drop primarily driven by the Federal Reserve’s interest rate decision and elevated inflation expectations, per Cointelegraph. Total crypto market long liquidations hit $492.8 million over the past 24 hours, with over $144 million in ETH long positions wiped out. CoinGlass data adds a critical warning: a break below $2,000 would trigger liquidations of more than $2.5 billion in leveraged ETH long positions across all platforms, signaling a larger “waterfall decline” risk if bearish momentum persists. Separately, U.S. spot Ethereum ETFs recorded net outflows of over $55.5 million Wednesday, snapping a six-day streak of net inflows. Over the past eight FOMC meetings, ETH has fallen seven times post-meeting. Typical post-FOMC pullbacks range from 16% to 23%, while deeper deleveraging phases have seen declines of 33% to 43%. On the technical front, $2,100 is a key support level—aligning with the upper trendline of an ascending triangle and the 50-day moving average (DMA). If bulls hold this level, the next targets are $2,575 (100-DMA) and then the triangle’s measured target of $2,700. A break below $2,100 would send ETH retesting triangle support near $2,000; further downside below the 20-DMA would expose it to a potential drop to $1,800.