Can Ethereum repeat the miracle of 2017? The $4000 barrier is within reach, ready to be breached!
Looking back at history, the current ETH trend is strikingly similar to the 2016-2017 cycle - after breaking through key resistance levels, an acceleration in upward momentum is becoming evident. Back then, ETH soared from $10 to $1400, a surge of over 140 times, driven by the ICO boom and explosive adoption of smart contracts; now, ETH is again approaching $4000, and market sentiment along with signals of capital inflow suggest: breaking this key point could trigger a stronger upward trend!
Why is $4000 so critical?
• Psychological resistance level: As one of the peaks of the 2021 bull market, breaking through this level could easily trigger FOMO, attracting more investors to jump in.
• Technical breakout: Currently, ETH has stabilized at $3600, with RSI showing a 'bowl-shaped structure' and strong buying momentum; if it breaks through the $3800-$4000 range, it is expected to enter an accelerated upward phase.
• Institutional capital support: Recently, ETH ETF saw over $700 million in daily capital inflow, setting a new record; whale addresses are also continuously increasing their holdings, indicating a clear bullish signal from large funds for the future market.