Ethereum's price fluctuations could lead to significant liquidations on major centralized exchanges (CEXs). Data from Coinglass indicates that if Ethereum's price drops below $1,970, long positions could face liquidations totaling $1 billion. Conversely, a price increase above $2,168 could result in $568 million in liquidations of short positions. These potential liquidations highlight the volatility and risk associated with Ethereum trading on CEXs.