Ethereum's price decline poses a liquidation risk for a major holder, Trend Research, if it falls within the $1,781.09 to $1,862.02 range without additional margin or position reduction. Trend Research holds 618,245.96 ETH across six addresses, with $1.33 billion in WETH collateralized against $939 million in stablecoin loans. The top address, holding 169,891 ETH, faces liquidation at $1,833.84, while the second largest, with 175,843 ETH, has a threshold of $1,862.02. Other addresses have liquidation prices ranging from $1,781.09 to $1,856.57, highlighting the potential risk if ETH prices continue to fall.