If Ethereum breaks through $3,200, the cumulative short position liquidation intensity on major centralized exchanges will reach 533 million.
TL;DR
If Ethereum surpasses $3,200, short liquidations on major exchanges could hit $533 million, while a drop below $3,050 might trigger $998 million in long liquidations. The chart indicates price sensitivity at these levels, not exact contract values.
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According to Coinglass data, if Ethereum breaks through $3,200, the cumulative short liquidation intensity on major CEXs will reach $533 million.
Conversely, if Ethereum falls below $3,050, the cumulative liquidation intensity of long positions on major CEXs will reach $998 million.
BlockBeats Note: The liquidation chart does not show the exact number of contracts pending liquidation, or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the importance, or strength, of each liquidation cluster relative to its neighboring liquidation clusters.
Therefore, the liquidation chart shows the extent to which the price of an asset is affected when it reaches a certain level. Higher "liquidation bars" indicate that the price will react more strongly due to liquidity surges once it reaches that level.