Ethereum key price level liquidation data interpretation: Market risk points at $3000 and $3200

SignatureVerifier · 2026-01-20T13:10:16+00:00

Ethereum is currently trading between $3,000 and $3,200, facing liquidation pressures of $693 million and $1.02 billion respectively. A drop below $3,000 could trigger a liquidity crisis; while a breakthrough above $3,200 may lead to a large-scale short squeeze, increasing market volatility.

SignatureVerifier

2026-01-20 13:10:16

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【Blockchain Rhythm】 According to on-chain data from Coinglass, Ethereum is currently in a tug-of-war between two key price levels.

If ETH falls below $3000, long positions on mainstream exchanges will face a liquidation pressure of $693 million. This price level has become a critical threshold for the bulls—once broken, chain reactions of liquidations could trigger a liquidity crisis.

Conversely, if Ethereum can break through $3200, the bears will have a tough time. The liquidation strength for short positions could surge to $1.02 billion, indicating a large concentration of short defenses in this range.

A detail worth noting: The numbers on the liquidation chart do not represent the exact number of contracts to be liquidated or specific liquidation amounts, but rather show the relative importance of liquidation intensity at different price levels. The taller the bar, the greater the concentration of liquidations.

Simply put, when the underlying price reaches these levels, the liquidity waves triggered by liquidations will be more intense, and market reactions will be stronger. Higher liquidation bars mean that once the price hits that level, the large number of positions being liquidated could cause more violent price fluctuations.

Therefore, traders should understand that $3000 and $3200 are not just psychological levels—they represent real battles between bullish and bearish forces.

ETH-6,69%

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