COINOTAG News reported on May 19th that data from Coinglass indicates significant liquidity thresholds for Ethereum, a critical player in the crypto market. Should Ethereum’s price dip below $2300, mainstream centralized exchanges (CEX) could experience a cumulative long liquidation intensity of around $508 million. Conversely, if Ethereum manages to breach the $2500 threshold, a substantial short liquidation intensity of up to $744 million may ensue.
It is essential to clarify that the liquidation chart provides an indication of relative importance among liquidation clusters but does not specify exact contract values or the precise number of potential liquidations. The intensity highlighted in these charts serves to illustrate how market pricing may react to breaches at these critical levels, with higher liquidation bars suggesting a more pronounced liquidity cascade and sharper price movements upon reaching these thresholds.
Source: https://en.coinotag.com/breakingnews/ethereum-price-alert-potential-liquidation-impact-at-2300-and-2500-levels/