Ethereum's price fluctuations could lead to significant liquidations on major cryptocurrency exchanges. Data from Coinglass indicates that if Ethereum (ETH) drops below $2,941, long positions totaling $1.03 billion could be liquidated. Conversely, a rise above $3,245 could result in the liquidation of $989 million in short positions. These potential liquidations highlight the volatility and risk associated with Ethereum trading on centralized exchanges.