**Ethereum Liquidation Risk Alert: $3,216 Level Becomes Critical Support**

The derivatives market is flashing red for ETH traders. Data from major centralized exchanges reveals a dangerous accumulation of leveraged long positions that could trigger a cascade of forced closures if prices continue to slide.

Here's what's at stake: should Ethereum drop to the $3,216 mark, the total long liquidation volume across primary exchanges would balloon to $1.127 billion. Currently trading around $3.11K, ETH is already operating in a precarious zone just above this critical threshold.

The picture shifts dramatically on the upside. If Ethereum manages to rally above $3,548, short sellers would face a liquidation wall of approximately $500 million. This two-sided liquidation setup creates a tight trading corridor, with $332 in separating the bull and bear extremes.

For active traders, this data underscores a pivotal moment: the $3,216 support level represents not just a price point, but a potential $1.127 billion liquidation trigger that could either accelerate downside movement or, conversely, provide an unexpected bid from liquidation cascades. Meanwhile, bears will be watching the $3,548 resistance equally closely, knowing that a clean break above that level could send their positions underwater rapidly.

The message is clear—leverage positioning is stretched at both extremes, making the next directional move potentially explosive for either side of the market.