According to ChainCatcher, data from Coinglass shows two key ETH price levels associated with liquidation intensity on major centralized exchanges. If ETH falls below $1,596, cumulative long liquidation intensity across major CEXs will reach $971 million. In the opposite direction, if ETH breaks above $1,758, cumulative short liquidation intensity across major CEXs will reach $403 million.
The two figures refer to different sides of leveraged positioning. The $1,596 level is linked to long positions, where a downward move through that price corresponds to a larger cumulative long liquidation intensity. The $1,758 level is linked to short positions, where an upward break through that price corresponds to cumulative short liquidation intensity.
Liquidation intensity is a Coinglass metric used to display the distribution of leveraged positions across major centralized exchanges. Based on the reported data, the long-side liquidation intensity below $1,596 is higher than the short-side liquidation intensity above $1,758.