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Check out the liquidation hotspots on major exchanges. ETH is at a critical level—if the price breaks below $2819, the total liquidation of long positions across major CEXs could reach approximately $1.081 billion. Conversely, if ETH can stay above $3113, the liquidation strength on the short side will also be significant, reaching around $1.037 billion.
These two price levels are essentially key support and resistance levels in the short term, especially during periods of high market volatility. The dense liquidations on both longs and shorts indicate that market participants are engaged in intense battles at these points. For prudent trading, keeping an eye on these data points is advisable.