ChainCatcher reported, citing Coinglass data, that ETH is currently associated with two notable liquidation-intensity levels across major centralized exchanges. If ETH breaks above $1,796, the cumulative short liquidation intensity on major CEXs would reach $1.138 billion. In the opposite direction, if ETH drops below $1,627, the cumulative long liquidation intensity on major CEXs would reach $531 million.
Liquidation intensity describes the concentration of leveraged positions that would face liquidation pressure if price reaches a given level. It is not the same as liquidation volume that has already occurred. Based on the two figures provided by Coinglass, the short liquidation intensity above $1,796 is higher than the long liquidation intensity below $1,627, making these two price levels key reference points in the current ETH leveraged-position distribution.