ChainCatcher reported, citing Coinglass data, that if ETH falls below $1,589, the cumulative long liquidation intensity across major centralized exchanges would reach $893 million. This figure refers to the concentration of long-side liquidation pressure at the stated price level under Coinglass’ measurement.
Two ETH Price Levels Highlighted in the Coinglass Data
On the other side, if ETH breaks above $1,754, the cumulative short liquidation intensity across major centralized exchanges would reach $586 million. Based on the figures provided, the long liquidation intensity associated with a move below $1,589 is higher than the short liquidation intensity associated with a move above $1,754.
The reported data focuses only on ETH liquidation intensity on major CEXs. The two referenced levels are $1,589 and $1,754, with corresponding amounts of $893 million and $586 million. Liquidation intensity is used to describe the concentration of leveraged positions around different price levels and is not the same as the amount of liquidation that has already occurred.