According to on-chain data tracking, two key price levels of Ethereum are attracting market attention.

If ETH can hold above the $3,260 resistance, short positions on mainstream exchanges will face tremendous pressure—the total liquidation strength will surge to $1.472 billion. This means that once leveraged short positions are broken through, the chain reaction could be very intense.

On the other side, the support level below is at $2,953. Once this level is broken, the days for longs will become uncomfortable. The liquidation scale of long positions on major CEX platforms will reach $1.103 billion—this magnitude is enough to cause significant price fluctuations in a short period.

Traders are probably well aware that such liquidation data often signals a key turning point in the market. In the oscillation range between these two levels, whoever can grasp the direction will seize the opportunity.