According to a report from ChainCatcher, on-chain data platform Coinglass has highlighted two critical price levels for Ethereum (ETH) in its liquidation heatmap. If ETH falls below $1,654, the total long liquidation intensity on major centralized exchanges (CEXs) such as Binance and OKX is expected to reach approximately $904 million. This indicates that over $904 million worth of long positions could be forcibly closed below that level, potentially accelerating the downward move.
Conversely, if ETH breaks above $1,827, the cumulative short liquidation intensity on mainstream CEXs is estimated at $617 million. This figure represents the total value of short positions that may be liquidated if the price exceeds that threshold. Concentrated short liquidations often generate buying pressure, which can help push prices higher.
These liquidation intensity figures are calculated by Coinglass based on contract open interest and leverage data from exchanges, reflecting market vulnerability near key price points. Traders and investors frequently use such data to assess potential support and resistance zones, as well as the likelihood of increased volatility. It is worth noting that actual liquidation volumes may vary depending on liquidity and order book dynamics.