Ethereum Price Break: $989M Short Liquidations vs. $850M Long Liquidations

According to data from Coinglass, if Ethereum (ETH) were to break through $2,818, the total liquidation strength of open short positions on major CEXs would reach approximately $989 million. Conversely, if ETH were to plummet below $2,554, the total liquidation strength of open long positions on these platforms would increase to around $850 million.

The data highlights the potential for significant price movements in the Ethereum market, particularly if it breaks through the mentioned thresholds. The clear distinction between short and long positions emphasizes the strong conviction of traders at these price levels.