According to a report from Cointelegraph on August 10, Deep Tide TechFlow news indicates that after ETH broke the $4,000 mark for the first time since the end of 2024, market sentiment has risen again. Analyst Merlijn states that the rise channel for ETH's price has been opened, with the current highest target price potentially set at $20,000. Additionally, trader BitBull pointed out that due to massive short positions being squeezed and institutional buying pressure, it may be easier for ETH's price to reach a new historical high. If the weekly closing price is above the $4,100 range, a new historical high may appear within 1-2 weeks.

ETH2.26%
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