According to data from Coinglass, price movements in Ethereum (ETH) could lead to large-scale contract liquidations. If ETH breaks above the $1,737 level, the cumulative short liquidation intensity on major centralized exchanges (CEXs) is estimated at $908 million. Conversely, if ETH drops below $1,577, the cumulative long liquidation intensity could reach $573 million.
Coinglass's liquidation intensity metric is derived from open interest and leverage data across exchanges, reflecting the potential impact of forced position closures on the market. These key price levels are often regarded as significant support or resistance zones, and their breach could amplify price volatility.
Market participants should note that liquidation data is dynamic and based on current positions. Actual liquidation scenarios may be influenced by market liquidity and order book depth. Traders monitor these levels closely to assess potential market direction.