Analysis: Ethereum Poised for Record-Breaking Short Squeeze, Set to Reach $4,000 "Soon"
BlockBeats News, July 19 — The Kobeissi Letter stated in its latest analysis released on Friday that ETH/USD is poised to reach $4,000 soon. Ethereum is currently brewing a rare short squeeze in crypto history. If the price rises another 10%, short positions worth $1 billion will be liquidated.
The liquidation of short positions could drive ETH’s price to rebound to $4,000. Ethereum is currently priced at $3,553, and its recent price movement has been described as “making history,” with ETH’s surge triggering a record-breaking short squeeze.
Kobeissi noted that as the largest altcoin by market capitalization, Ethereum is “punishing” shorts at an exceptionally rare pace.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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