ETH between two major clearing thresholds: $1.4 billion in short pressure above, $950 million in long support below

According to the latest news, Ethereum(ETH) is currently in a critical price range. Data shows that if ETH breaks above $3,444, the cumulative short liquidation strength on mainstream CEXs will reach $1.404 billion; conversely, if it falls below $3,126, the cumulative long liquidation strength will reach $951 million. Currently, ETH is trading around $3,281, exactly between these two key levels.

Market Implications of Liquidation Strength

Liquidation strength data reflects how many contract positions will be forcibly closed when the price reaches a certain level. The larger this number, the greater the market pressure at that price point.

From the current data, the pressure structure ETH faces is quite clear:

Deeper Market Structure Insights

This data structure reveals several important pieces of information:

• Greater Upward Pressure: The $1.404 billion in short liquidation strength is significantly higher than the $951 million support below, indicating more market contracts are betting against ETH. If ETH truly breaks above $3,444, forced liquidation of these shorts could push prices higher, creating a short squeeze effect.

• Price Range as a Focus: The $318 range between $3,126 and $3,444 has become the most watched battleground for market participants. Traders and contract holders are positioning within this zone.

• Historical Context: Recent reports indicate that in the past 24 hours, the entire network experienced $689 million in liquidations, including $190 million in ETH shorts. This shows recent market volatility has already caused significant liquidations, and the current liquidation strength data suggests potential for even greater risks ahead.

What Traders Should Watch

This type of data offers different insights for various participants:

• Contract Traders: These levels are critical risk points. Whether long or short, caution is advised near these key levels because high liquidation strength indicates potential for rapid price swings.

• Spot Holders: Relatively lower risk, but understanding these data helps gauge overall market sentiment. High liquidation strength suggests significant disagreement among market participants about future directions.

• Liquidity Providers: This price range will be the most active trading zone and also where slippage could be the largest.

Summary

ETH is currently at a clear technical junction. The $3,444 level above is a dense zone of short liquidations, while the $3,126 level below is a dense zone of long liquidations. The 318-dollar range in between is the market’s battleground. According to recent data, ETH has risen 6% over the past 7 days and 15% over the past 30 days, indicating an overall upward trend. However, from the perspective of liquidation strength, the upward pressure($1.404 billion) is significantly greater than the support($951 million), implying that breaking above the upper level will face stronger selling pressure. The upcoming market movement is likely to oscillate between these two levels until one is effectively broken through.