🎤 Cheer for Your Idol · Gate Takes You Straight to Token of Love! 🎶
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A breakthrough of Ethereum above $4400 or a fall below $4000 will trigger mass contract liquidations.
[Block Rhythm] On August 22, according to data from the data platform, if Ethereum breaks through 4400 USD, the cumulative short order liquidation intensity on mainstream trading platforms will reach 2.072 billion.
On the contrary, if Ethereum falls below 4000 USD, the cumulative long order liquidation intensity of mainstream trading platforms will reach 1.202 billion.
Note: The liquidation chart does not display the exact number of contracts pending liquidation or the exact value of the contracts being liquidated. The bars on the liquidation chart actually show the importance of each liquidation cluster relative to nearby liquidation clusters, i.e., intensity.
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 the price will react more strongly due to liquidity waves once it reaches that level.