According to the latest monitoring by on-chain data tracking机构 Coinglass, Ethereum currently faces several key price levels—these positions not only represent technical resistance but also directly relate to the liquidation pressure in the derivatives market.

Specifically, if ETH breaks above the $3,128 threshold, the liquidation strength of short positions held across major centralized exchanges will rise to $1.464 billion. This means that once this price level is firmly established, short sellers will face considerable forced liquidation pressure. Conversely, there are clear risk warnings on the downside—if ETH drops below $2,834, the liquidation strength of long positions will reach $603 million.

From a market structure perspective, the liquidation pressure on shorts is significantly greater than on longs, reflecting a relatively concentrated shorting force in the current derivatives market. For traders paying attention to leverage trading trends, these two price levels are worth close monitoring, as they often serve as key triggers for short-term volatility.