Ethereum is nearing key price levels that could trigger large forced unwinds on major centralized exchanges, according to Coinglass data. One reported snapshot showed cumulative short liquidations reaching $846 million if ETH rises above $1,968, while cumulative long liquidations could total $727 million if it falls below $1,788. A newer snapshot cited by ChainCatcher showed lower liquidation intensity at nearby levels, with $452 million in shorts at risk above $1,963 and $469 million in longs below $1,789. Together, the figures indicate concentrated leveraged positioning on both sides of the market, meaning a breakout or breakdown could amplify volatility.