There is an interesting market data point worth noting on January 5th. According to on-chain data, changes at key price levels of Ethereum will directly impact the liquidation strength on major exchanges.

Specifically: if Ethereum can break through the $3,300 resistance level, the accumulated short liquidation scale will reach $794 million. This means short sellers will face significant pressure.

Conversely, if Ethereum drops below the $3,000 support level, long positions will face a liquidation scale of $1.122 billion. That’s quite a substantial figure.

The difference in liquidation strength between the two directions is quite large — approximately $794 million for shorts and $1.122 billion for longs. This indicates that the current market has relatively heavier leveraged long positions. For traders, both of these price points are critical risk levels to watch closely. The short-term trend direction will likely directly determine the upcoming liquidity shocks.