There is interesting market data 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 key resistance of $3,300, 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 $1.122 billion in liquidations. That’s quite a substantial figure.
The liquidation strength differences in both directions are quite significant — short liquidations are about $794 million, while long liquidations reach $1.122 billion. This indicates that the current market has relatively heavier leverage on long positions. For traders, these two price points are critical risk levels to watch closely. The short-term trend direction will likely directly determine the upcoming liquidity shocks.