Bears are being heavily attacked as the price of Ether surpasses the resistance level of $4,000. Some analysts suggest this could be setting the stage for an upcoming 'short squeeze.'
In light of the positive developments from Ether, Eric Trump criticized traders who are betting on a price drop.
“It’s great to see short Ether positions blown up today. Don’t keep betting against BTC and ETH – you will be crushed.”
According to data from CoinGlass, on Friday, about $105 million in short Ether positions were liquidated, accounting for approximately 53% of the total $199.61 million in liquidated short positions across the entire cryptocurrency market. This is the first time Ether has surpassed the $4,000 price since December 2024.
The price of Ether reached a peak of $4,060 during the trading day, corresponding to a 4.6% increase in the past 24 hours, before adjusting to $4,015 at the time of publication, according to information from Nansen.
Trader Ash Crypto stated that the price of $4,100 will be a critical test, which he calls the main resistance: “If ETH surpasses the $4,100 threshold, this could trigger a short squeeze, pushing the price of ETH to $4,400-$4,500 in just a few hours.”
Optimism for Ether is increasing
Additionally, trader Ted emphasized: “I have never seen such optimism,” pointing to the increasing interest of institutions in Ether and the demand for Ether ETF funds.
In the past four trading days, Ether spot ETFs have recorded approximately $537 million in inflows, according to data from Farside.
Recently, there have been some notable price predictions for Ether. After surpassing the $4,000 mark, trader Moustache said: “I know it sounds ridiculous, but I think ETH will exceed $10,000.”
Meanwhile, Fundstrat co-founder Tom Lee stated on Thursday that Ether is experiencing a 'Bitcoin 2017 moment' and could reach highs of up to $16,000.