Traders are monitoring key price levels for Ethereum risk signals. According to Coinglass data, a break above $3,150 could trigger a wave of short liquidations across major CEXs, with aggregate exposure near $1.055 billion.

Conversely, a drop below $2,950 may ignite substantial long liquidations, estimated around $797 million, highlighting liquidity-driven volatility around critical support. COINOTAG clarifies that the liquidation chart reflects relative cluster importance rather than exact contract counts; higher bars signal a potential liquidity cascade as prices reach those levels. In practice, these thresholds inform risk controls for traders and institutions, with outcomes contingent on live order book dynamics and exchange-wide capital flows.