Ethereum’s price surged 4.98% to $3,182, reflecting strong investor confidence.
Market cap rose 4.90% to $383.30 billion, signaling robust market support.
Trading volume grew 19.56% to $37.38 billion, indicating active market participation.
As BTC continues to scale up new heights, altcoins have also been showing imminent progress in the market. Analysts and market enthusiasts are quite cautious about the future prospects of the token. Ash Crypto, a prominent crypto enthusiast and analyst, presented his different views on ETH and presented a chart. The chart illustrates the Ethereum exchange liquidation map, displaying data from major exchanges including Binance, OKX, and Bybit. It shows the cumulative short and long liquidation leverage levels over a one-day period, with the current ETH price marked at $3,025.
https://twitter.com/Ashcryptoreal/status/1855270786065412466 ETH Liquidation Clusters Signal High Volatility as Key Price Levels Near
The bar graph highlights liquidation clusters at various price levels, with the yellow, blue, and orange colors representing different exchanges. Large peaks in cumulative short liquidation leverage (green bars) are visible at specific price intervals below $3,025, indicating important liquidation interest on the short side at these lower price points. On the contrary, cumulative long liquidations are less pronounced in comparison, but there are still notable peaks at specific resistance levels, likely where long positions face liquidations as prices trend downward.
The cumulative liquidation leverage line on the right axis, climbing steadily towards 476.6M, highlights the growing leverage positions held across these exchanges, possibly signaling heightened volatility. The chart suggests a potential for increased market activity and possible liquidations as prices approach certain thresholds. These liquidation levels serve as crucial indicators for traders, as they reveal the vulnerability of leveraged positions, both long and short, across different price levels. If ETH’s price nears these liquidation levels, we may observe swift price movements due to forced liquidations, which could further fuel volatility in the market.
Ethereum Rises 4.98% to $3,182 as Market Cap and Volume Surge Higher
Moving on to the 24-hour chart, Ethereum has seen a steady rise of 4.98%, which has resulted in its price reaching $3,182. The token has been steadily rising from a support level of $3,032 and had faced a slight dip in the middle but has since then recovered while facing an increment to its current price. Without any contradiction, the market capitalization has also followed the same trajectory with its 4.90% spike, which is valued at 383.30 billion.
Source: Coinmarketcap
With all this happening, the trading volume has also not been left behind, as it has also followed the upward trajectory and, of late, has seen a 19.56% and has a price tag of $37.38 billion. The rise in both trading volume and market capitalization is a clear indication of how investors have been actively participating in the market
The post Ethereum Price Surges to $3,182 as Market Cap and Volume Hit New Highs appeared first on Crypto News Land.
