Decreasing your position leverage will increase your Initial Margin (IM) and Maintenance Margin (MM) requirements, bringing your estimated liquidation price closer. Conversely, increasing your leverage will decrease IM and MM, pushing your estimated liquidation price further away.
For example:
10x Leverage = 10% initial margin requirement and 5% maintenance margin requirement
5x Leverage = 20% initial margin requirement and 10% maintenance margin requirement
Decreasing your leverage moves your estimated liquidation price closer, as your maintenance margin requirements are increasing.