According to Coinglass data, if Ethereum (ETH) price breaks above $1,816, the cumulative short liquidation intensity on major centralized exchanges (CEXs) could reach $966 million. Conversely, if ETH drops below $1,647, the cumulative long liquidation intensity would amount to $685 million.
Liquidation intensity refers to the total estimated value of contracts that could be forcibly liquidated when the price reaches a certain level, calculated based on current open interest and leverage. This metric is commonly used to gauge potential market volatility. Specifically, a short liquidation intensity of $966 million means that if ETH rises to $1,816, approximately $966 million worth of short positions would be forced to buy back, potentially fueling further upward momentum. Meanwhile, a long liquidation intensity of $685 million indicates that if the price falls to $1,647, long contracts would be forcibly sold, possibly exacerbating downward pressure.
Currently, ETH is trading within the $1,647–$1,816 range, and traders are closely watching these key levels. Coinglass sources its data from aggregated position information across multiple major exchanges, providing a reliable reference. This data offers market participants important insights for risk management and strategy formulation.