According to the latest monitoring data from the on-chain data platform, the price trend of Ethereum is locking in several key liquidation thresholds.

Looking ahead, once ETH breaks below the $2,971 support level, long positions on mainstream centralized exchanges will face significant pressure—the total liquidation strength will surge to $1.829 billion. This means that if the price drops that far, it could trigger a chain reaction of liquidations.

Conversely, if ETH can hold steady and break above $3,271, the bears' days will be numbered. At that point, the liquidation strength of short positions on mainstream CEXs will reach $846 million, and short sellers may be forced to cut losses.

Behind these two figures, it actually reflects the current market leverage distribution and sentiment. The forces of bulls and bears are relatively balanced at these two price levels, indicating that market participants have set risk stop points nearby. For traders, these liquidation strength data can serve as a reference for judging key support and resistance levels.