ETH Targets $2,600 by May as Short Squeeze Setup Builds

Blockchain.News says conditions are ripe for an ETH short squeeze that could lift prices to $2,600 by May. Negative perpetual funding (-0.0114%) means shorts are being paid, while open interest has jumped 11% to $5.6bn and price sits near $2,342 — a setup that historically precedes violent squeezes if momentum shifts. Key technicals: ETH is above its 50-day MA ($2,137) and repeatedly testing $2,400–$2,414 resistance; a decisive break with volume could flip funding positive and force short covering. Conversely, failure at resistance and a break below $2,264/$2,137 would risk liquidation cascades toward $2,100 or lower. The piece is bullish on a higher outcome but warns of volatile, binary risk around the $2,400 area.