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Analysis: Ethereum to Face Record Short Squeeze, Expected to Reach $4000 Soon

Summary: According to The Kobeissi Letter's latest analysis released on Friday, ETH/USD is expected to touch $4000 soon. Ethereum is currently experiencing a rare short squeeze in crypto history. If the price rises by another 10%, short positions worth $1 billion will be liquidated. The liquidation of short positions could drive ETH price back up to ...

According to The Kobeissi Letter's latest analysis released on Friday, ETH/USD is expected to touch $4000 soon. Ethereum is currently experiencing a rare short squeeze in crypto history. If the price rises by another 10%, short positions worth $1 billion will be liquidated. The liquidation of short positions could drive ETH price back up to $4000. With Ethereum's current price at $3553, its recent price movement has been described as historic, triggering a record short squeeze. Kobeissi stated that as the largest altcoin by market capitalization, Ethereum is punishing shorts at an extremely rare pace.

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