ETH liquidation intensity imbalance warning: short position pressure is 1.8 times that of long positions, with $3110 becoming a key risk point

The data shows that if ETH breaks above $3,110, the total liquidation strength of short positions on major exchanges will reach $1.494 billion. Conversely, if it falls below $2,816, the long liquidation strength will be $829 million. Behind this seemingly simple data comparison, it reflects significant changes in the current derivatives market’s leverage structure and trader sentiment.

Interpretation of Liquidation Strength Data

What is Liquidation Strength

Liquidation strength refers to the total amount involved in stop-loss liquidations triggered by price fluctuations at a certain price level in the derivatives market. This indicator can reflect the leverage level and risk concentration within a specific price range.

Current Market Imbalance Signal

According to Coinglass data, ETH’s upward liquidation strength ($1.494 billion) is far higher than its downward liquidation strength ($829 million), with a difference of 1.8 times. This asymmetric structure indicates:

• The market has heavier leverage on short positions
• Traders are insufficiently prepared for upward moves
• Once the price breaks upward, short positions will be liquidated in a chain reaction

Price Distance and Risk Assessment

The current ETH trading price is $2,958.42, positioned between two liquidation levels:

This means ETH is slightly farther from the upward liquidation trigger point but not far from the downward trigger point. The market is in a relatively fragile position.

Market Context Reinforces This Risk

From recent news, ETH has performed poorly:

• Down 4.49% in 24 hours
• Down 11.16% over 7 days
• The entire crypto market sector has retraced, with declines generally between 2-9%

In this ongoing downward trend, short positions tend to increase (traders are strongly bearish), which also explains why short liquidation strength is so high.

What Traders Should Watch

From the perspective of liquidation strength, key points to monitor include:

• Above $3,110: Once broken, large-scale stop-losses on shorts could accelerate the upward move
• Below $2,816: The support for longs is weak; breaking below could speed up the decline
• Current price zone: Relatively balanced but fragile, any breakout in either direction could trigger chain liquidations

Summary

This liquidation strength data reflects a typical “asymmetric leverage market” state. The $1.494 billion in short liquidation strength far exceeds the $829 million in longs, indicating that the market has accumulated significant short positions under bearish sentiment. Against the backdrop of ETH’s recent continuous decline, this structure is both a risk indicator and a potential rebound trigger. For traders, the levels of $3,110 and $2,816 are not just technical points but also key risk concentration zones in the derivatives market that require close attention.