Ethereum Price Threshold Triggers Massive Liquidations

Markets have been closely monitoring Ethereum's (ETH) price movements in recent days, and Coinglass data has revealed some significant insights into potential market dynamics.

If ETH were to fall below the critical level of $2,246, the cumulative long liquidation intensity on major cryptocurrency exchanges (CEXs) is expected to reach a staggering $1.323 billion.

Conversely, if ETH breaks above the resistance level of $2,473, the cumulative short liquidation intensity on major CEXs will reach approximately $531 million.