COINOTAG News notes, on October 31, per Coinglass data, that a break above $3,900 for Ethereum could push the cumulative short liquidations on major CEXs toward $536 million.

By contrast, a drop below $3,700 may drive the cumulative long liquidations on major CEXs toward $959 million.

COINOTAG notes that the liquidation chart does not reveal the exact number of contracts awaiting liquidation or its precise value; instead, the bars indicate the relative intensity of each liquidation cluster relative to adjacent clusters.

Thus, the chart signals how much the underlying price could move when it reaches a given level; a higher liquidation bar implies a stronger reaction driven by a liquidity cascade.