ETH at $2,500 limeni faces a critical test, with increasing risk of cascading liquidations

Ethereum(ETH) is currently under significant technical pressure. According to crypto market analysts, the current price is not far from the key support level of $2,500. If this psychological level is broken, it could trigger a chain reaction of liquidations.

On-chain data shows that ETH is currently hovering around $2.11K, leaving room for an upward move compared to the $2,500 support limeni. However, the market is generally cautious about the strength of the defense at this level. If bulls cannot hold this limeni effectively, bears may take advantage of the breakout, leading to large-scale long liquidations.

Analysts emphasize that losing this support level would not only result in a price decline but could also trigger a cascade of leveraged contract liquidations. When cascading liquidations begin, market liquidity can quickly dry up, further intensifying downward pressure. Therefore, the stability of the $2,500 limeni is crucial for the short-term market direction.