According to the statistics from the Coinglass platform, if the price of Ethereum breaks above $4860, the accumulated short liquidation scale in mainstream centralized exchanges may reach $1.56 billion. Conversely, if the price falls below $4085, the liquidation pressure faced by long positions will also rise to $1.283 billion.
These numbers actually reflect the fragility of the current market position structure. A large number of short positions are concentrated above $4860, and once the price strongly breaks through this level, it will trigger a chain liquidation, further accelerating the price increase. Similarly, the stop-loss concentration area for long positions is distributed around $4080; if it falls below this, it will also trigger passive liquidation of long positions, exacerbating downward pressure.
From the perspective of trading psychology, these key liquidation thresholds are often the focus of short-term competition between bulls and bears. Traders should be cautious of the risks brought by the market volatility amplified by the liquidation mechanism, especially in a high-leverage environment, as prices quickly approach these critical points, leading to severe fluctuations. It is recommended to closely monitor the price performance of ETH near these two positions and to implement appropriate risk management.
