Ethereum is teetering on the edge of a potential short-squeeze showdown as leverage levels soar, with many traders betting on a price decline. The rising Estimated Leverage Ratio indicates a surge in high-stakes short positions, suggesting that many are expecting a drop in $ETH prices. However, if Ethereum can push past the critical $2.7K resistance level, it could trigger a wave of short-covering, sending prices sharply upward. Despite this possibility, market sentiment remains largely bearish. The Ethereum Foundation recently sold 100 $ETH for 252,491 $DAI just 10 minutes ago, continuing a trend of gradual sales. In 2024 alone, the Ethereum
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