According to the latest tracking data from the on-chain data platform Coinglass, Ethereum has recently faced several key price levels. Once ETH breaks above the psychological threshold of $3,343, the accumulated short positions on mainstream centralized exchanges will trigger a wave of liquidations, with the liquidation strength potentially reaching $1.102 billion. Conversely, if ETH falls below the support of $3,041, the danger for long positions will become apparent—liquidation strength of long positions on mainstream CEXs is expected to reach $790 million. These two data points reflect the leverage distribution in the current market range and have certain reference significance for short-term trends.