The leveraged short position contracts for Ethereum have reached high levels, indicating the possibility of a rebound to reduce the saturation. Ethereum has been underperforming this year compared to other cryptocurrencies, experiencing a 20% correction. Despite recent bullish calls, bearish sentiment towards Ethereum has increased, with a record number of short positions. This has raised speculation of a short squeeze, where heavy shorting could lead to a strong bounce in the opposite direction. Ethereum has shown signs of life with a 4% rebound, and if it can sustainably hold support at $2,600, it could potentially reach $3,000 or even $4,000.



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