Ethereum key price levels analysis: $3,200 triggers $533 million short liquidation, $3,050 causes nearly $1 billion long position crisis

【Crypto World】Two key price levels for Ethereum worth paying attention to. According to Coinglass’s liquidation data, if Ethereum can break through the $3200 level, the liquidation strength of short positions on mainstream exchanges will surge to 5.33 billion. Conversely, if Ethereum drops below $3050, the long position liquidation strength on major CEXs will reach 9.98 billion — which is a quite significant number.

However, to be clear: the liquidation chart does not show an exact number of contracts or the specific value of liquidated contracts. The bars on the chart truly reflect the relative importance of each liquidation cluster compared to surrounding clusters — that is, the liquidation intensity. In other words, the liquidation chart is actually telling you how much impact the entire market will experience when the underlying asset price moves to a certain level. The taller the bar, the more intense the market liquidity response when the price reaches that level. This is very helpful for understanding short-term price fluctuations and potential waterfall declines.