Ethereum shows significant growth, surpassing the psychologically important $4,000 mark, resulting in short position liquidations and optimistic predictions from traders.
Short Position Liquidations Amid Ethereum's Rise
On Friday, Ethereum surpassed the $4,000 mark, causing a significant liquidation of short positions. According to CoinGlass, approximately $105 million in Ethereum short positions were liquidated, accounting for about 53% of the total liquidations on the crypto market, which totaled $199.61 million.
Traders' Forecasts and Resistance Levels
Traders predict a possible price surge, expecting that the resistance level at $4,100 could trigger a short squeeze. One trader noted, 'If ETH breaks $4,100, it could send ETH to $4,400-$4,500.'
Market Optimism and Future Price Expectations
Looking to the future, there is optimism surrounding Ethereum, linked to increasing institutional interest and inflows into Ethereum ETFs. Over the past four trading days, Ethereum ETFs have seen around $537 million in inflows. Some experts predict that Ethereum prices could reach $10,000 and even $16,000.
With the current growth and the liquidation of short positions, many experts and traders express optimism about the future prices of Ethereum.
