PANews reported on August 9th that according to Cointelegraph, the optimistic sentiment in the cryptocurrency industry towards ETH is rising. ETH's price broke through $4,000 on Friday, triggering approximately $105 million in ETH short liquidations, but potential price increases may set the stage for further short squeezes.
Analyst Ash Crypto pointed out that the real test will be the key price resistance level of $4,100. If this price level is breached, it could trigger a short squeeze and stimulate ETH to quickly rise to $4,400-$4,500.