Ethereum long positions totaling $722 million across major centralized exchanges face liquidation if the token drops below $3,700, Coinglass data show on Oct. 30. Short positions worth $1.623 billion would be at risk if ETH rises above $4,000 on mainstream CEXs. Coinglass notes liquidation charts reflect relative cluster intensity rather than exact contract volumes, with taller bars indicating stronger price reactions due to liquidity concentration at those levels.