Analysis: Ethereum may face a historic short squeeze, with a target price of $4,000

07-19

This article is machine translated

Show original

According to Cointelegraph, ChainCatcher reported that The Kobeissi Letter's latest analysis on Friday stated that ETH/USD will soon reach $4,000. Ethereum is currently brewing a rare short squeeze in crypto history. If the price rises by 10% more, short positions worth $1 billion will be liquidated.

The liquidation of short positions could drive ETH's price to rebound to $4,000. Ethereum's current price is $3,553, and its recent price trend has been described as "making history", with ETH's rise triggering a record-breaking short squeeze.

Kobeissi stated that as the largest Altcoin by market capitalization, Ethereum is "punishing" shorts at an extremely rare speed.

Sector:

Layer 1

Smart Contracts

Source

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.

Add to Favorites

Comments

Relevant content

Wu Blockchain

A brief overview of the history of blockchain wallets and the market landscape in 2025.

Cointelegraph

Crypto market ‘isn’t scared enough’ to call a bottom yet: Santiment

Wu Blockchain

Tom Lee responds to Fundstrat's "contradictory" views on Bitcoin: Different positions, different timelines, not internal disagreements.

BTC

0.37%