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

BlockBeats News, July 19th, The Kobeissi Letter stated in its latest analysis released on Friday that ETH/USD is soon to hit $4000. Ethereum is currently gearing up for 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 rebound to $4000. Ethereum's current price is $3553, and its recent price action has been described as "making history," as ETH's rise has triggered a record-breaking short squeeze.

Kobeissi stated that as the largest market cap altcoin, Ethereum is punishing shorts at an extremely rare pace.