According to the latest data analysis, Ethereum (ETH) is currently in a critical price range. Market observers are closely watching two important price points: the upward breakout point at $4,618 and the downward support level at $4,204. A breakout of either of these price points could trigger a significant market reaction.

Data shows that if the price of ETH can break through $4,618, it may trigger the forced liquidation of approximately $2.201 billion in short positions accumulated on major centralized exchanges (CEX). This means that traders who short Ethereum may face significant losses.

On the contrary, if the price of ETH falls below the support level of $4,204, it could lead to the liquidation of approximately $1.983 billion in long positions. This indicates that even relatively small price fluctuations can have a significant impact on the market.

This potential large-scale liquidation scenario reflects the high volatility and leverage usage in the current cryptocurrency market. Investors and traders need to closely monitor market trends and manage risks carefully. At the same time, it also highlights Ethereum's important position in the entire cryptocurrency ecosystem, as its price movements have a significant impact on the overall market.

As the market continues to monitor the price trend of Ethereum, experts advise investors to remain vigilant, manage risks effectively, and pay attention to various factors that may affect ETH prices, including overall market sentiment, technological developments, and changes in the regulatory environment.