🗞️ The Kobeissi Letter stated in its latest analysis published on Friday that the ETH/USD pair will soon reach 4,000 dollars. Ethereum is currently preparing for a short squeeze, which is rare in the history of crypto. If the price increases by another 10%, 1 billion dollars in short positions will be liquidated.
The liquidation of short positions could push the price of ETH up to 4,000 $. The current price of Ethereum is 3,553 $, and its recent action has been dubbed "making history", with ETH's rise triggering a record short squeeze.
Kobeissi stated that Ethereum, the largest altcoin by market capitalization, "punishes" bears at an extremely rare rate.
