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Ethereum Price Levels: Understanding the Liquidation Cascade Effect
Latest data from ChainCatcher, citing Coinglass analytics, reveals critical liquidation thresholds for Ethereum traders. With ETH currently trading at $3.15K, two key price levels are worth monitoring for their potential to trigger cascading liquidations across major centralized exchanges.
Upside Liquidation Scenario
Should ETH rally above the $2,883 mark, the cumulative short liquidation intensity across major CEXs is projected to reach $1.137 billion. This level represents a crucial resistance point where bearish positions would face significant pressure, potentially triggering a wave of forced liquidations that could further accelerate upward momentum.
Downside Liquidation Pressure
On the flip side, if Ethereum retreats to below $2,611, long positions become vulnerable. The cumulative long liquidation intensity on major CEXs would accumulate to $737 million at this support level. Such a breakdown could unleash substantial liquidation cascades, amplifying selling pressure.
What This Means for Traders
These liquidation zones highlight the leverage concentration in the Ethereum market. By understanding where cumulative liquidation clusters form, traders can better anticipate potential volatility spikes and support/resistance dynamics. Both thresholds serve as important markers in the current price action context.