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- 📢 Gate Square Ambassador Recruitment is Now Open! 🔥
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Analysis: Ethereum is set to experience a record short squeeze, reaching $4000 "very soon".
BlockBeats news, on July 19, The Kobeissi Letter stated in its latest analysis released on Friday that ETH/USD will soon reach 4000 USD. Ethereum is currently brewing a rare short squeeze in crypto history. If the price rises another 10%, short positions worth 1 billion USD will be liquidated. The liquidation of short positions could drive the ETH price rebound to 4000 USD. The current price of Ethereum is 3553 USD, and its recent price movement has been described as "making history," with ETH's rise triggering a record short squeeze. Kobeissi stated that as the largest market capitalization altcoin, Ethereum is "punishing" shorts at an extremely rare rate.