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Ethereum Breakthrough Imminent: Key Liquidation Data at $2850 and $3050 Levels
【Blockchain Rhythms】There are two critical threshold points in Ethereum price movements that are worth paying attention to. According to the latest data from Coinglass, if Ethereum falls below the support level of $2850, the liquidation intensity of long positions on mainstream CEXs will surge to 7.71 billion. Conversely, if Ethereum breaks above $3050, the liquidation intensity of short positions will reach 10.83 billion.
What do these numbers represent? In fact, liquidation data does not precisely calculate how many contracts will be closed or the exact value being liquidated. The bars on the liquidation chart show the relative importance of different liquidation clusters—i.e., their strength. In other words, it tells you how much impact the market will experience when the price moves to a certain level. The taller the bar, the more intense the liquidity wave will be once the price reaches that level. This provides some reference for short-term trading strategy formulation.