ETH Liquidation Map: Is a Breakout Coming?

Ethereum is currently trading at $1958. According to their data, the liquidation map clearly shows the areas where significant leveraged positions are accumulating.

📉 If ETH falls to $1642, approximately $3.76 billion worth of long positions will be liquidated.

📈 If ETH rises to $2189, approximately $490 million worth of short positions will be liquidated.

What Does It Mean?

Much more liquidity (and leveraged positions) has accumulated on the downside. This means that there could be a bigger wave of liquidation on the downside.

However, it should be remembered that liquidation liquidity does not determine the direction. Sometimes the market will target liquidity and move in that direction; sometimes it will do the opposite.

Right now, ETH is in a zone that has the potential to trigger liquidation to the upside and downside. Investors using leverage should be careful.