ChainCatcher reported, citing Coinglass data, that ETH has two clearly identified price levels tied to cumulative liquidation intensity across major centralized exchanges. According to the data, if ETH falls below $1,705, the cumulative long liquidation intensity on major CEXs will reach $857 million.
ETH liquidation intensity on both sides of the market
The same Coinglass data also shows the opposite side of the distribution. If ETH rises above $1,881, cumulative short liquidation intensity on major CEXs will reach $739 million. In this data set, the $1,705 level is associated with long-side liquidation pressure, while the $1,881 level is associated with short-side liquidation pressure.
Liquidation intensity is used to describe how leveraged positions are distributed around different price areas. Based on the figures disclosed in this ChainCatcher newsflash, ETH has $857 million in cumulative long liquidation intensity near $1,705 and $739 million in cumulative short liquidation intensity near $1,881 across major CEXs.