Ethereum's price fluctuations could lead to significant liquidations on major centralized exchanges (CEXs). Data from Coinglass indicates that if ETH drops below $2,174, long positions worth $1.817 billion could be liquidated. Conversely, if ETH surpasses $2,400, short positions totaling $792 million could face liquidation. These potential movements highlight the volatility and risk associated with trading Ethereum on CEXs.