According to data from Coinglass, if Ethereum (ETH) breaks above the $1,744 level, the cumulative short liquidation intensity across major centralized exchanges (CEXs) could reach $1.001 billion. This indicates a significant concentration of short positions around the current price zone, which could trigger a cascade of liquidations if the price moves upward.
Conversely, if ETH drops below $1,580, the cumulative long liquidation intensity on major CEXs would reach $412 million. This shows that a large number of long positions are also clustered at lower levels, creating potential liquidation risks on the downside.
Coinglass liquidation intensity data is estimated based on open interest and leverage across exchanges, providing traders with a reference for potential liquidity shifts. The two price levels represent opposing liquidation directions, and market participants should closely monitor price action to assess liquidation risks.