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      Ethereum Long Positions Cluster at $2,538 Amid Market Activity

      Data from Hyperliquid, a decentralized exchange for perpetual futures, reveals that the largest concentration of net long positions for Ethereum (ETH) is centered around the price of $2,538. This cluster indicates that 21% of these positions were opened at prices above the current trading range, which is reported to be between $2,662 and $2,683 as of October 2, 2026.

      The most significant position in this cluster belongs to a wallet identified as 0x0392…d7d9, which holds an 8x leveraged long valued at approximately $151 million, initiated at an entry price of $2,538.3. However, this position has a liquidation price set at $2,460.8, meaning that if ETH's price falls to this level, the position will be automatically closed, resulting in the loss of the collateral backing it.

      In addition to the long positions, the data also highlights substantial short positions, including a notable short of around $278 million at a price of $2,304. This suggests a divergence in market sentiment, as not all large traders are optimistic about ETH's price trajectory. The presence of these clustered positions may create pressure points in the market, potentially leading to increased volatility depending on ETH's price movements in relation to these key levels.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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