📈 After breaking the $4,000 barrier on Friday, Ethereum continued its rise on Saturday morning on the Binance platform, hitting its highest level in over 3 years, driven by heavy trading and short liquidations worth $207 million.
🔹 Key driving factors:
Short liquidations forced traders to re-buy, accelerating the upward pace.
"The wealth effect on-chain" where investors are reinvesting profits into smaller, riskier assets.
A strong increase in the language of optimism among traders, with mentions of words like "buy" and "bullish" doubling compared to "sell" and "bearish."
📊 Analysts' outlook:
Miles Deutscher: expects 3 phases for the market:
1️⃣ A small altcoin season led by ETH.
2️⃣ Momentum shifting towards Bitcoin targeting $120K–$140K.
3️⃣ A strong return for ETH and altcoins in a final upward wave.
Michaël van de Poppe: warns against the risk of buying at high levels, seeing that Ethereum ecosystem projects may achieve better profit ratios if momentum continues.
📌 Key technical points:
ETH rose from $3,914 to $4,160 in 24 hours (+6%).
Breaking $4,000 on a trading volume 3 times the average.
Reaching a session high of $4,194 before a slight retreat to $4,158.
Current support between $4,155 – $4,160 indicating a potential accumulation phase.
💡 Summary:
Ethereum is nearing its historical peaks, and the market is experiencing a clear optimism, but caution is required at these levels... as accumulation may precede a new price explosion!
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