Ether traded at $2,495 with modeled liquidation levels pressed close on both sides. Estimated short liquidations start at $2,498, where traders betting on a drop would be forced to buy back. Estimated long liquidations sit at $2,480, where leveraged buyers would be closed out.

Further out, the larger modeled clusters are at $2,576 above and $2,401 below.

Within 3% of price the exposure is balanced, so neither longs nor shorts carry more of the nearby risk. These are estimates built from open interest and leverage, not recorded liquidations.