Will Ethereum repeat the miracle of 2017? The $4000 threshold is imminent!
Ethereum's current trend shows similarities to the cycle of 2016-2017, especially the accelerated upward trend after breaking key resistance levels. At that time, ETH soared from $10 to $1400, an increase of over 140 times, largely due to the ICO boom and the explosive adoption of smart contracts. Now, $ETH is once again approaching the $4000 threshold, and market sentiment and capital inflows suggest that breaking this key point could trigger a larger upward movement.
Why is $4000 so important?
1. Psychological resistance: $4000 is one of the peaks of the 2021 bull market, and breaking through it could attract more investors to chase the price, creating a FOMO effect.
2. Technical breakout: Currently, ETH has stabilized above $3600, with the RSI showing a 'bowl-shaped structure', indicating strong buying pressure. If it breaks through the $3800-$4000 range, it could enter an accelerated upward phase.
3. Institutional capital support: Recently, ETH ETF inflows have hit record highs (over $700 million in a single day), and whale addresses are continuously increasing their holdings, indicating a positive outlook from large funds.
Aggressive investors can continue to hold for higher returns, while more conservative investors can take profits in batches to balance risk and reward. Key support levels are at $3200-$3400; as long as it does not fall below these levels, the overall trend remains bullish.
