Ether saw the largest wipe lifle of the day on all cryptographic assets on Friday when its price exceeded $ 4,000, some analysts saying that it could prepare the ground for a short pressure.
The rally led Eric Trump, son of the American president, Donald Trump, blowing a blow to Bearish Traders.
$ 4.1,000 is now essential for “short pressure”, explains Trader
“It puts a smile on my face to see the Shorts Eth get smoking today. Stop betting against BTC and ETH – you will be overthrown,” Trump said in a post on Friday.
Friday, around $ 105 million in short ether (ETH) positions were liquidated, which represents around 53% of the total of $ 199.61 million in liquidated shorts from the entire cryptography market, because Ether has exceeded the price level of $ 4,000 for the first time since December 2024, according to Coinglass.
Ether’s price increased up to $ 4,060 during the day, which represents an increase of 4.6% in the last 24 hours, before moving to $ 4,015 at the time of publication, according to Nansen.
Crypto Trader Ash Crypto said that the real test would be the price level of $ 4,100, which it called “major resistance”.
“If ETH breaks $ 4100, it could trigger a short pressure that will send ETH at $ 4,400 at $ 4,500 in a few hours,” said Ash Crypto.
Ether optimism increases in cryptographic industry
The Crypto Ted merchant said: “It has never been so optimistic in my opinion”, emphasizing the growing institutional interest in ether and ether demand.
In relation: Ethereum Top is in? ETH SELL-Pressure reached $ 419 million, second highest level of all time
In the last four days of negotiation, the ETHE ETF have experienced around $ 537 million in entries, according to Farside data.
Recently, there have been significant price forecasts for ether. After exceeding $ 4,000, Crypto Trader Mustache said: “I know it seems wild, but I think ETH will go to $ 10,000 +.”
Meanwhile, the co-founder of Fustestrat, Tom Lee, said Thursday that Ether had his “Bitcoin 2017” moment and could reach $ 16,000.
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