ChainCatcher reported that, according to data from Coinglass, ETH is approaching two price levels linked to sizable liquidation intensity on major centralized exchanges. The data shows that if ETH breaks above $1,749, cumulative short liquidation intensity across major CEXs would reach $677 million.
The opposite side of the price range was also included in the Coinglass figures. If ETH falls below $1,585, cumulative long liquidation intensity on major CEXs would reach $605 million. These two levels describe the liquidation pressure associated with short positions on an upward move and long positions on a downward move.
Liquidation intensity data is commonly used to observe how leveraged positions are distributed around specific price points. In this update, the $1,749 level for ETH corresponds to $677 million in short liquidation intensity, while the $1,585 level corresponds to $605 million in long liquidation intensity. Both figures were attributed to Coinglass in the ChainCatcher report.