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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Ethereum (ETH) is facing an extremely critical price resistance level. Looking back over the past few years, this particular price level has blocked ETH's pump momentum six times, with each touch leading to a pullback ranging from 30% to 75%. Notably, the only time this resistance level was successfully breached, ETH subsequently set a new all-time high.
Currently, Ethereum bulls are making every effort to conquer this key price level. This scene inevitably recalls past historical patterns, while also stimulating market expectations for a potential breakthrough.
However, the current macroeconomic environment also adds complexity to this technical analysis. The uncertainty of the global economic situation, especially changes in trade policies, could have profound effects on the cryptocurrency market.
In addition, market observers have also noted the recent accumulation behavior of large ETH holders, commonly known as "whales." This influx of funds may suggest that some big players are optimistic about the future trend of ETH.
Regardless, Ethereum's performance at this key resistance level is likely to determine its short-term trend. Investors and traders are closely monitoring this development, anticipating a potential breakthrough or pullback.