According to Coinglass data, if Ethereum (ETH) falls below $1,654, the cumulative long liquidation intensity on major centralized exchanges (CEXs) would reach $904 million. This metric indicates the scale of long positions that would be forcefully liquidated if the price drops to that level, potentially accelerating downward pressure.
Conversely, if ETH breaks above $1,827, the cumulative short liquidation intensity would hit $617 million. A price rise to this level would trigger short covering, amplifying upward momentum. Liquidation intensity is a critical measure of market risk, highlighting leverage concentration at specific price points.
Coinglass calculates these figures based on open interest and leverage across exchanges, helping traders identify key support and resistance zones. The current data shows $904 million in long liquidation intensity and $617 million in short liquidation intensity, allowing investors to gauge potential market reactions when price breaks through these key levels.