$ETH surged past $4,000 on Friday, triggering the largest short liquidation in the crypto market that day and wiping out roughly $105 million in bearish bets over half of all crypto short liquidations.

Analysts are now focused on the $4,100 resistance level. If Ether can break and hold above this price, it could trigger a rapid short squeeze and push the price towards the next targets of $4,400–$4,500.

Some traders and analysts are even more bullish, predicting that ETH could reach $10,000 or even $16,000 in the longer term.