Analysis: Ethereum is about to see a record short squeeze and will soon rise to $4,000
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Odaily Planet News 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 "creating history", with ETH's rise triggering a record short squeeze. Kobeissi stated that as the largest Altcoin by market cap, Ethereum is "punishing" shorts at an extremely rare speed. (Cointelegraph)
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