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A breakthrough of 2900 USD for Ethereum or a fall below 2700 USD will trigger large-scale liquidations.
On July 10th, according to data from the data platform, if Ethereum breaks through 2900 USD, the cumulative short order liquidation intensity on mainstream trading platforms will reach 655 million.
On the contrary, if Ethereum falls below 2700 USD, the cumulative long order liquidation intensity on mainstream trading platforms will reach 1.452 billion.
Note: The liquidation chart does not display the exact number of contracts pending liquidation or the exact value of contracts being liquidated. The bars on the liquidation chart actually show the importance, or strength, of each liquidation cluster relative to nearby liquidation clusters.
Therefore, the liquidation chart shows to what extent the underlying price will be affected when it reaches a certain position. A higher "liquidation pillar" indicates that after the price reaches it, there will be a stronger reaction due to the wave of liquidity.