The data provided indicates a liquidation event for a long position on Ethereum $ETH . Here's a breakdown:
Details:
2. Type of Position: Long
The trader anticipated that the ETH price would increase.
3. Liquidation Price: $3,518.95
The market price hit this level, triggering the liquidation.
4. Liquidated Value: $172,000
The value of the position that was forcefully closed by the exchange.
Context:
Liquidations occur when the price moves against a leveraged position, and the trader's margin can no longer support the position.
For a long position, liquidation happens when the price drops to or below the liquidation price.
Implications:
This reflects a significant price movement in ETH.
High liquidations can exacerbate market volatility as forced sales or purchases occur.
