Ether has surged to a 15-week high, fueling market speculation about whether $1.8 billion in vulnerable short positions could propel ETH beyond the $3,000 resistance level.
The cryptocurrency’s upward momentum has placed significant pressure on leveraged short traders, with approximately $1.8 billion worth of ETH short positions now facing potential liquidation. Such large-scale liquidations could trigger cascading buy orders as traders rush to cover positions, potentially accelerating ETH’s ascent.
Market analysts highlight that a breach of the $3,000 psychological barrier would represent a major technical breakthrough for Ether. The substantial volume of at-risk shorts creates conditions for a potential short squeeze scenario that could rapidly drive prices higher.
This price development reflects renewed institutional and retail interest in Ethereum’s ecosystem amid broader cryptocurrency market recovery. Traders are closely monitoring order book dynamics and liquidation thresholds for signs of continued upward momentum.