According to ChainCatcher, citing Coinglass data, ETH has two key price levels associated with sizeable liquidation intensity on major centralized exchanges. If ETH breaks above $1,810, the cumulative short liquidation intensity on mainstream CEXs will reach $636 million.
On the other side, if ETH falls below $1,639, the cumulative long liquidation intensity on major CEXs will reach $529 million. These two figures describe the estimated liquidation pressure for leveraged short positions during an upside move and leveraged long positions during a downside move.
Liquidation intensity is not the same as the amount of liquidation that has already occurred. It is a reference metric presented by Coinglass based on contract-position data from major centralized exchanges, and it is used to show where concentrated liquidation pressure may appear when price reaches specified levels.