Ethereum Traders Face Record-High Liquidations: Is $2000 a Pipe Dream?

• Ethereum’s long positions face record-high liquidations, surpassing $58 million in May.
• Despite a slight price increase, Ethereum remains in a bearish trend around the $1,830 price range.
• 24-hour analysis revealed liquidations totaling $8.42 million with long positions witnessing liquidations amounting to $2.48 million and short positions facing liquidations totaling $5.94 million.

Record High Liquidations

Ethereum’s [ETH] price has been trapped within the $1,800 price range for quite some time, but lately, we’ve witnessed a glimmer of hope with a modest surge. Unfortunately, even this slight upward movement hasn’t proven sufficient to safeguard certain traders’ positions from being forcefully liquidated. Glassnode Alerts reported that the Mean Liquidated Volume in Ethereum Futures Contracts’ Long Positions peaked on 27 May with average amounts of Ethereum Futures Long Liquidations exceeding 32,000 ETH equivalent to over $58 million at the press time valuation – one of the highest ETH Futures Liquidation in May.

24-Hour Analysis

Examining the Ethereum liquidation within a 24-hour timeframe revealed a notable amount of liquidation activity according to CoinGlass. ETH experienced liquidations totaling $8.42 million in the past 24 hours where long positions witnessed liquidatiosn amounting to $2.48 million and short positions faced liquidations totaling $5.94 million respectively; long positions accounted for over $600k while short postions stood at over half a milion dollars worth of losses as per this writing .

A Hope For Growth?

Despite these high numbers of liquidation and bearish trends around the current market valuation for Ethereum it seems there is still hope for growth amoung investors as there have been small surges of prices increasing which indicate potential future progress and hopefully more stabilised trends ahead for Etheruem’s value overall .

The Risk Of Losses

It is important to keep in mind that when engaging in long positioms for Ethereum futures contracts traders are speculating on the prce increase but if ETH falls below a specific threshold traders accounts may lack sufficient funds resulting losses being forced to be taken through being closed or liqudated due to margin requirements not being met .

Conclusion

In conclusion whilst ther eis potential growth and hope ahead for Etheruem’s value investors must remain mindful that there is always an inherent risk when trading futures contracts and should ensure they plan accordingly by having enough funds lined up before entering into any trades or deals just incase they need to cover any sudden losses which may occur as everything can change quickly when it comes down to cryptocurrency markets .