2026-01-18 12:27:26

Ethereum's current market rhythm has completely changed. This is not a slow climb but a standoff on the edge of a cliff — both bulls and bears are accumulating at key price levels, ready to trigger at any moment.

By looking at two main critical lines, you can understand how tense the current situation is.

If ETH falls below the $3,161 support line, long positions on major CEXs will face nearly $993 million in chain liquidations. Once this trigger is pulled, it’s not just a simple decline but a liquidation stampede — longs are forced to close positions, while shorts continue to add pressure, creating a vicious cycle.

Conversely, if ETH breaks through $3,462, the situation will completely reverse. About $989 million in short positions will be forced to cover, which means what? Shorts will be passively stopped out, buying pressure will flood in, and the price will be pushed higher continuously.

In simple terms, Ethereum is now hanging between these two lines. The first to be broken will definitively determine the market direction. This is not a prediction but a clear market structure observable through liquidation data.

ETH-3,18%

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TopBuyerForever

· 2h ago

Wow, as soon as I saw the number 993 million, I knew someone was about to get wiped out. Exactly right, it's that simple and brutal, traps everywhere above and below. I bet everyone will miss the next move haha. 3161 or 3462, anyway, my chance of choosing wrong is 100%. This round's momentum is really intense, feels like the shoe is about to drop. Swinging wildly between two lines, the people in the middle must be about to burst from the blood pressure.

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LightningLady

· 01-18 12:57

Standoff on the cliff... I’m familiar with this rhythm. Over 900 million long positions, that feeling of being on the verge of triggering... To be honest, it's a bit exciting. Sold half of the spot holdings, just waiting to see which line breaks first.

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GateUser-c799715c

· 01-18 12:54

The metaphor of standing on the edge of a cliff is perfect. The liquidation data of 993 million and 989 million are facing each other, truly a situation on the verge of eruption. Stuck between 3161 and 3462, it feels like there will be a big move in the next couple of days. If this round of liquidation and stampede really happens, it will be disastrous. The bulls need to escape quickly. Either break through 3462 or wait for the liquidation; the bears should cover their positions. Forget about predictions, just watch the market. The data is right here.

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ContractBugHunter

· 01-18 12:53

The metaphor of hanging on the edge of a cliff is really brilliant, but I'm more concerned about what retail investors should do... If the 3161 line really breaks, I think we'll regret not running in hindsight. It's also uncomfortable on the bearish side; breaking through 3462 and then being violently beaten back—no one will feel comfortable. Honestly, I've been watching these two numbers for over a week, just waiting for that moment. The benchmarks of 9.93 billion and 9.89 billion... feel a bit like metaphysics. Don't even talk about the market; this is clearly a gambling game. From the liquidation data, the structure is indeed clear, but there are always surprises when it comes to execution.

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OPsychology

· 01-18 12:53

Confrontation on the edge of the cliff, I see this as waiting for the madness of the liquidation wave to arrive. The $993 million long position... once the defense is broken, it will be a stampede. It’s painful just to watch.

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SybilAttackVictim

· 01-18 12:51

Playing with fire on the edge of a cliff, with 900 million in liquidation waiting... this pace is really unsustainable.

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WinterWarmthCat

· 01-18 12:48

I'm someone who enjoys analyzing liquidation data. This wave is really tense, with both sides on the verge of liquidation. Whoever moves first will lose. It seems like the 3161 support line can't hold anymore; the bears are too aggressive. Breaking through 3462 would be truly satisfying. When the bears are forced to cover their positions, that's the real feast. Waiting to see which line breaks first—that's the feeling of a casino. Forget it, better to hold onto the chips first and not get wiped out by liquidations. In this market, both bulls and bears are trapped in the middle. Whoever dares to move will be the unlucky one. $939 million in long liquidations—once triggered, it's a stampede. It's too crazy. Actually, right now, entering the market is all about betting on probabilities. Nothing is certain. If it breaks, it breaks. Anyway, I'm mentally prepared. Looking at the liquidation data, the market structure seems quite clear. It all depends on whose willpower is stronger.

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