Ethereum Triggers Secondary Risk Points, Traders Should Watch Two Key Liquidation Levels

According to the latest statistics from on-chain data tracking platforms, Ethereum (ETH) currently faces clear risk boundaries. At the current market level, ETH is searching for direction near critical price points.

**Upside Breakout Risk: Shorts Concentrated at This Level**

If ETH can break above the $3,243 resistance level, it will trigger large-scale short liquidations on major centralized exchanges. Data shows that after this breakout, the total short liquidation volume could reach $1.596 billion. This means that once the bulls successfully break this level, a large number of forced stop-loss short positions will push the price higher, creating a chain reaction.

**Downside Breakdown Risk: Bulls' Defensive Line at This Level**

On the other hand, if ETH drops below $2,936, long positions on mainstream trading platforms will face massive liquidations. Relevant data indicates that the total forced liquidation of longs at this level could reach $1.064 billion. Falling below this support level will also trigger chain liquidations, further depressing the price.

**Current Situation Analysis**

Currently, ETH is fluctuating around $3.22K, between these two risk levels. This range also reflects a balance of power between bulls and bears. Market participants should closely monitor the performance of these two key levels, especially the breakout signals during volume changes.